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With bitcoin’s price up 6.8% from last week, a dormant bitcoin address from 2013 became active for the first time in over 11 years, transferring 114.42 bitcoins valued at $7.67 million.
Sleeping Bitcoin Wallet Awakens After 11 Years, Moves 114 Bitcoins
April and May have seen fewer awakenings of long-dormant bitcoin addresses, but some noteworthy events have occurred. On May 20, a legacy Pay to Public Key Hash (P2PKH) address transferred 114.42 BTC to another P2PKH wallet. This address, created on Feb. 2, 2013, had been inactive for a total of 4,125 days. At that time, each BTC was worth $20.50, making the original value of the funds approximately $2,345.
Currently, the bitcoin moved on May 20, 2024, is valued at $7.67 million using current BTC exchange rates. If the owner cashed out, the return on investment would be 37,451,348% since the sleeping bitcoin stash was obtained on Feb. 2, 2013. The transferred funds remain in the new P2PKH wallet at the time of writing. However, the 114.42 bitcoin cash (BCH) linked to the original address, worth about $55,517, was not moved.
Blockchair rated the transaction’s privacy low, at 45 out of 100, due to multiple occurrences of the same address in inputs. Additionally, the funds were transferred using the “send everything” option. This transaction follows several other recent movements of dormant bitcoin from 2013, including 36.2 BTC on Thursday and two transfers of 50 BTC each on Wednesday. Earlier in the month, another 2013 wallet moved 26.6 BTC for the first time in over a decade, just prior to another 2013 wallet transferring 1,000 bitcoins.
What do you think about the bitcoin wallet from 2013 suddenly moving more than 114 bitcoins on Monday? Share your thoughts and opinions about this subject in the comments section below.