Dormant Bitcoin Wallets Awaken with $80 Million in Transfers

A recent surge in Bitcoin transactions has seen four long-dormant wallets come back online, transferring a total of $80,042 in value.

The largest wallet to be reactivated held 146.06 BTC, worth approximately $113 million, and had been inactive since November 2013, with an estimated gain of 12,902% based on the original cost price of around $595.

A smaller wallet that had been dormant since November 2011 also transferred a significant amount of funds, with 40 BTC worth approximately $309 million being moved. This wallet had an average cost basis of just $3 and an astonishing gain of 2,571,899% over the nearly 15-year period.

The transactions are part of a larger trend of dormant wallets coming back online this summer, following six similar instances in August where approximately $400 million was transferred within a 10-day period.