Idle Wallet Awakens, Unleashing $51.6M Bounty
A nearly 14-year-old Bitcoin wallet that was created on July 14, 2012, has suddenly moved 600 BTC. The wallet's contents were transferred from a legacy address to a newer P2WPKH format wallet and then split between two wallets.
The move is significant because the same stash of 600 BTC would have been worth only around $4,512 when it was created in July 2012, given that Bitcoin traded near $7.52 per unit at the time. Fast forward to today, with a price of $86,012, and that same stash is now worth an astonishing $51.6 million.
The wallet's owner likely didn't need to do anything special to achieve this result. The coins simply sat in the wallet for nearly 14 years while Bitcoin experienced booms, crashes, exchange collapses, halvings, and multiple generations of investors.