Vintage Bitcoin Vaults Open: $8.6M Moved From 2012 Dormant Addresses
In a recent report, it was revealed that there were $958 million in dormant bitcoin transactions in 2023. Following this revelation, a total of 325.19 bitcoins from addresses created in January 2012 were mobilized.
Bitcoin Movements from 2012 Addresses
Two initial transfers were made from wallets set up over 11 years ago on January 11, 2012. The first transfer involved 145.53 BTC, while the second transfer involved 21.97 BTC. Both transactions were confirmed at block height 807,852 and were discovered by btcparser.com.
Another Transfer from Address “1HNnG”
Shortly after the first two transfers, another transfer of 157.69 BTC was executed from the address labeled “1HNnG.” This transaction received confirmation at block height 807,853. It is worth noting that all three transactions lacked advanced privacy measures, making them vulnerable to scrutiny.
Potential Singular Owner
An analysis of the overlapping addresses used in these three transactions suggests that they likely came from a single owner. This indicates that a total of 43 dormant bitcoin addresses from 2012 have been reactivated in 2023, with their vintage coins being moved.
Cumulative Transfer and Increased Value
Considering the recent 325.19 bitcoin transaction from 2012, a total of 3,700.97 BTC has been transferred from that year alone in 2023. At current BTC exchange rates, this translates to a staggering $98.25 million. It is worth noting that when the owner initially acquired these coins, each bitcoin was priced at $6.36. The value of the trove has now increased to $8.6 million.
Hot Take: Dormant Bitcoin Addresses from 2012 Reactivated
In 2023, there has been a significant movement of bitcoins from dormant addresses created in 2012. The reactivation of these vintage coins has led to a cumulative transfer of 3,700.97 BTC, worth $98.25 million at current exchange rates. This highlights the potential value and wealth that can be held in dormant bitcoin addresses, with their worth increasing over time. It also raises questions about the privacy and security measures taken by bitcoin owners when making transactions.
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