Bitcoin Wallet Dormant Since 2011 Moves Millions

A Bitcoin wallet that has been dormant since 2011 has suddenly moved millions of dollars in cryptocurrency. The wallet, which held 49.97 BTC received on July 16, 2011, transferred the funds on Wednesday at block 961331.

The stash is now worth around $3.2 million, representing a staggering 634,347% gain from its original cost of roughly $10 per coin.

This is not an isolated incident, as old coins waking up has become a recurring theme in Bitcoin. In recent years, several ancient stashes have been reactivated, with some analysts attributing these movements to professional infrastructure rather than individual investors cashing out.