Ancient Bitcoin Wallet Awakens, Transfers Millions

A long-dormant Bitcoin wallet that had not moved funds in over 14 years has awakened, sending shockwaves through the cryptocurrency market. The wallet, which held 49.97 BTC received on July 16, 2011, suddenly activated and transferred the funds to a new address at block 961331.

The value of the coins, which cost approximately $500 to acquire in mid-2011 at around $10 per coin, has skyrocketed to $3.23 million today, representing a staggering 634,347% gain.

As part of the transaction, the funds were routed through FalconX, a crypto prime broker that serves trading firms and institutions, fueling speculation about whether the old coins are being repositioned toward a trading venue or simply relocated for security or custody.