Dormant Bitcoin Wallets Stir After Decade-Long Slumber
A sudden surge in activity among dormant Bitcoin wallets has been observed, with four wallets inactive for over a decade moving a combined 202.84 BTC worth approximately $15.73 million between August 29 and September 4.
The wallets, which range from 13 to nearly 16 years old, had not recorded a single transaction in more than a decade. Their cost bases are so low that even a modest Bitcoin price produces percentage gains that are difficult to contextualize.
One wallet, holding 40 BTC, had been dormant since November 2011 and was worth approximately $3.09 million at the time of transfer. This translates to a gain of approximately 2,571,899%, with an original outlay of around $120.
A transfer on one of the wallets was tagged as going to Coinbase, typically associated with intent to sell rather than internal reorganization.