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During the first week of December and the last month of the year, the leading cryptocurrency bitcoin crossed the $100,000 mark for the first time in history. Two weeks later, its value climbed past the $108,000 range. Meanwhile, 139 long-dormant bitcoin wallets, created between 2010 and 2017, stirred back to life after years of inactivity.
Record-High Bitcoin Prices Spark Movement of 139 Legacy Wallets
On Dec. 31, 2024, bitcoin (BTC) ended the day priced at $93,501 per coin as of 00:00:00 UTC. Throughout December, approximately 139 legacy P2PKH (Pay to Public Key Hash) addresses, created from 2010 to 2017, moved coins for the first time in years. The oldest among the batch was a 50 BTC coinbase reward from a legacy P2PKH address created on Oct. 9, 2010. These 14-year-old coins were sent to a Pay-to-Script-Hash (P2SH) address, marking their first move in over a decade.
Wallets from 2011 saw slightly more action, with eight P2PKH addresses transferring 206.87 BTC, valued at $19.3 million. In December, addresses from 2012 moved a combined 213.9101 BTC. One standout from this group, created on Nov. 21, 2012, moved 104.99 BTC in a single transaction. However, the month’s heaviest spenders were wallets created in 2013. Roughly 21 P2PKH addresses from that year moved 3,181.5 BTC, worth a staggering $297 million.
Among the 2013 spenders, one wallet stole the spotlight by transferring 2,700 BTC in a single transaction. Created on Dec. 20, 2013, it made its big move on Dec. 3, 2024, seemingly getting into the holiday spirit a bit early. Following close behind spends from 2014 wallets claimed the second spot, edging out the others by just one bitcoin. According to btcparser.com, 26 transactions from 2014 moved 1,077.2151 BTC, valued at just over $100 million. Notable moves included one address transferring 210 BTC and another shifting 357.40 BTC.
Spends from 2015 wallets totaled nine distinct transfers, amounting to 383.55 BTC. Seventeen transactions from 2016 wallets moved 373.85 BTC. December also saw 47 wallets from 2017 spring to life, collectively spending 1,076.01010393 BTC. Interestingly, 19 of these moves transferred a modest 0.00000547 BTC, all connected to a larger transfer of 99.99 BTC.
In total, the sleeping wallets that woke up in December 2024 moved a jaw-dropping $613 million worth of BTC, equal to about 6,562.91 BTC. The reawakening of dormant bitcoin wallets in December 2024 paints a vivid picture of the cryptocurrency’s enduring allure and the mysterious habits of long-term holders. Whether spurred by market milestones or personal motivations, these movements reflect the evolving dynamics of value storage and spending within the crypto realm.
Each transfer tells a silent story of trust in the technology, careful timing, or perhaps newfound opportunity. As these once-static assets reenter circulation, they remind us of bitcoin’s dual nature: a time capsule of past decisions and a fluid instrument of present-day financial activity, still capable of captivating its diverse and global user base.