Sleeping Giant Awakens: $6 Million Bitcoin Move After 11 Years
Last month, 19 bitcoin addresses from 2012 suddenly became active after remaining dormant for over 11 years. Now, in October 2023, this trend continues with more old bitcoins being transferred. On October 4 and 6, a total of 86 addresses from 2014 moved 860 bitcoins, while an address from 2013 transferred 504.99 bitcoins. Additionally, two addresses from 2012 combined to move 426 BTC.
More Old Bitcoin Transfers
In the latest set of transactions on October 8, two addresses from the year 2012 collectively transacted 227 BTC, equivalent to $6.34 million. The first transaction involved the transfer of 15 BTC at block height 811,239. The receiving wallet had a “modest” privacy grade and was created on April 26, 2012. The funds were then moved to a different wallet using a P2SH address.
Shortly after, at block height 811,244, another transaction took place involving the transfer of 212 BTC. This movement originated from an address created on October 24, 2012. However, unlike the previous transfer, these coins were not moved to a P2SH address but instead to another legacy address.
Privacy Concerns and Total Transactions
Both of these transfers received low privacy grades due to repetitive address appearances in inputs. With these transactions, the total number of transfers from wallets created in 2012 this month has reached four. In total, these transfers have awakened and moved a treasure worth $18.25 million after lying dormant for over a decade.
Antique Transaction from 2011
While there haven’t been any transfer actions from 2010 addresses in October 2023, a transaction from an antique 2011 address occurred on October 4. The address created on August 8, 2012, moved 12.98 BTC, which is still valued at $362,781 today.
The Declining Sightings of 2010 Transactions
Although each month brings fascinating spends from the golden era of bitcoin, sightings of transactions from 2010 are becoming rarer. The last such transaction occurred 55 days ago on August 14, 2023, involving the transfer of a significant amount of bitcoins in a single swoop.
Hot Take: Old Bitcoin Addresses Continue to Move After Years of Dormancy
It’s intriguing to witness the awakening of old bitcoin addresses that have remained untouched for years. With each new transfer, these sleeping giants make their presence felt in the cryptocurrency world. The recent movements from wallets created in 2012 highlight the value and potential hidden within these vintage bitcoins. As more dormant addresses become active, it raises questions about the motivations behind these transfers and what impact they might have on the market. Whether it’s for investment purposes or simply rediscovering forgotten assets, the phenomenon of old bitcoins coming back to life adds another layer of excitement to the crypto space.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.