Sleeping Bitcoin wallet stirs after 11 years, moving over $30M

A dormant Bitcoin (BTC) wallet holding over 1,037 Bitcoin — worth $31 million at current prices — has suddenly awoken after an 11-year slumber, transferring out its entire stash. 

The 1,037 BTC was transferred amid a Bitcoin price of $29,956 and took effect at block height 799701 — approximately 10:51 am UTC on July 22, according to BitInfoCharts.

The long-dormant address obtained the 1,037 BTC on April 11, 2012, when Bitcoin’s price was only $4.92, on-chain analytics platform Lookonchain stated on July 22. This means at the time, the stash was only worth around $5,108.

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

Data from blockchain aggregator Blockchair shows that wallet address “bc1qt180…” — which appears to be a fresh wallet — was the recipient of the $31 million. 

The balance of the original Bitcoin wallet peaked at $71.6 million when BTC reached its all-time high of $69,044 on Nov. 10, according to cryptocurrency price platform CoinGecko.

The United States government has been one of the biggest BTC movers of late, having transferred out nearly 10,000 BTC — worth $299 million — in a series of transactions on July 12 in relation to the Silk Road seizure.

It isn’t clear whether the transactions were sent to cryptocurrency exchanges or if it remains in the custody of the Justice Department.

More mysterious wallet movements

On June 11, another mysterious Bitcoin whale moved 1,400 BTC — worth $36 million at the time — to a Pay-to-Taproot (P2TR) address. CryptoQuant CEO Ki Young Ju believes the motive behind this transaction may have been to enhance privacy.

Earlier in April, another Bitcoin address transferred 2,071 BTC — worth $60 million — nearly 10 years after catching BTC at $663, according to Lookonchain.

Three months earlier, a massive $250 million transfer of 26,056 BTC was made by another Bitcoin address….

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