A Bitcoin wallet address that has been dormant for nearly 12 years recently made its first fund transfer, with 1,000 BTC (now worth more than $60 million) held by the wallet being traded on Sunday. This is based on on-chain data.
The data shows that the wallet received Bitcoin 11 years and 9 months ago and has not made any spending transactions since then. Until Sunday, the wallet transferred 1,000 BTC to a new address. According to Blockchain.com data, the transaction was originally broadcast on January 19, 2024.
When the wallet was first discovered by the on-chain monitoring platform Whale Alert, the Bitcoin it held was worth only $12,100. During the nearly 12 years of holding, the value of these Bitcoins has increased by about 500,000%.
It is not clear why the funds were transferred this time, nor is the identity of the wallet owner. However, when the transaction was initially broadcast over the network, the value of these Bitcoins was about $41.6 million. Due to the rise in Bitcoin prices, the delay between transaction broadcast and actual mining has made the current value of these Bitcoins close to $20 million.
Just ten days ago, another wallet that had been dormant for a similar amount of time moved nearly $7,000,000 in funds after waking up.
On May 12, 1,000 BTC worth over $60 million was moved for the first time in 10 years. This was followed by 687.33 BTC — worth over $44 million — also moved for the first time in 10 years, just a week ago.
In March, the fifth richest address on the Bitcoin blockchain, which had been dormant since 2019, recently moved $6 billion. That same month, another entity consolidated $140 million in Bitcoin mined in 2010 into a single wallet.
