Bitcoin Awakens: Dormant Wallets Erupt with 8,000% Gains After 12-Year Slumber

Unusual on-chain activity has been observed on the Bitcoin network in recent days. Four wallets that had remained dormant for over 12 years have come back to life, transferring a combined 114.39 BTC within 48 hours.

The main burst of activity occurred on August 11, when three addresses created in January and February 2014 were activated in consecutive Bitcoin blocks. The owners' net returns approached an extreme 7,746% or nearly 8,000%, after holding the coins for over a decade.

Galaxy Research reported that one of the wallets transferred 27.85 BTC on August 11, with a realized profit of $1.76 million and a gain of 7,746%. The average purchase price for these wallets was just $814 per BTC in early 2014.