Dormant Bitcoin Wallets Awaken with $15M in Weekend Activity

A recent wave of activity on the Bitcoin blockchain has seen four long-dormant wallets move a total of $15.73 million in just over a week.

The largest transfer came from a wallet that had remained inactive since November 2013, moving 146.06 BTC worth around $11.31 million. This represented a gain of approximately 12,902% from its original cost basis of near $595 per coin.

A smaller but equally impressive move was made by a wallet holding 40 BTC purchased in November 2011 for an average price of just $3. After nearly 15 years, this stash had grown to be worth over $3.09 million.

Galaxy Research, which monitors the blockchain, noted that one transfer linked to Coinbase could indicate plans to sell. However, not all dormant Bitcoin movements are necessarily indicative of an intent to liquidate, as these coins can also be moved for custody changes or wallet consolidation.