Sleeping Bitcoin Wallets Suddenly Wake Up, Moving Over $60 Million

At least 13 Bitcoin wallets that had been inactive for over a decade woke up in August, moving nearly 818 BTC worth more than $60 million. The largest transfer was 212 BTC moved on August 18 from an address that had not been used for about 14 years.

The average cost basis of these coins was around $12 per Bitcoin, and at the time of the move, they were valued at roughly $13.66 million. This represents a realized profit of over $13.66 million, or a gain of more than 557,640%.

Other transfers took place between August 1 and August 18, involving amounts ranging from 8.54 to 49.97 BTC from individual addresses. The holding period for these coins ranged from 12 to 15 years, with some wallets realizing profits in the millions of dollars.