11 years old Bitcoin wallet awakens, moves $31 million in BTC

A Bitcoin wallet holding 1,037 BTC, worth around $31 million, has sprung to life after remaining untouched for more than 11 years.

The crypto was transferred out, signaling a potential move in the crypto market. The sudden move has caught the attention of traders and analysts, raising questions about the source and intentions behind the dormant Bitcoin wallet’s awakening.

The transfer of the 1,037 BTC occurred when the price of Bitcoin was around $29,956 on July 22, according to BitInfoCharts.

A BTC whale that has been dormant for 11 years transferred all 1,037.42 $BTC($37.8M) to a new address"bc1qtl" an hour ago.

The whale received 1,037.42 $BTC($5,107 at that time) on Apr 11, 2012, when the price was $4.92.https://t.co/k8ZmO5vc8X pic.twitter.com/xBaw2dQfY8

— Lookonchain (@lookonchain) July 22, 2023

The on-chain analytics platform Lookonchain showed that BTC was first acquired on April 11, 2012, when the cryptocurrency was trading at around $4.923.

The total value of the whale wallet was around $5,108, at that time. The recent move to a new wallet address, identified as “bc1qt180…,” now holds the sum of $31 million in BTC, showing a gain of 606,418.36%.

The dormant Bitcoin wallet’s journey is underscored by its peak value, which reached $71.6 million during Bitcoin’s all-time high price of $69,044 on November 10, according to CoinMarketCap.

Such significant gains over the years have fueled curiosity about the wallet’s origin and the rationale behind the sudden movement of funds.

Despite the revival of this long-dormant wallet, the source and intentions behind the transfer remain a mystery.