Bitcoin Dormant Wallets Spring Back to Life, Bringing $15.73M to Market

A recent surge in Bitcoin (BTC) wallet activity has seen four long-dormant wallets move $15.73 million in recent days, according to Galaxy Research's blockchain monitoring.

The largest transfer came from a wallet that had remained inactive since November 2013 and held 146.06 BTC. This stash had gained around 12,902% from its original cost of near $595, making it worth approximately $11.31 million.

A more remarkable story emerged from a wallet that contained 40 BTC bought in November 2011 at an average price of just over $3. After nearly 15 years of dormancy, this wallet's value has skyrocketed to around $3.09 million, representing a gain of more than 2.5 million percent.

Galaxy Research linked one of the transfers to Coinbase, suggesting that the owner may be planning to sell their Bitcoin. However, it's essential to note that moving coins alone does not prove liquidation, and these transactions could be due to other reasons such as custody changes or wallet consolidation.