Dormant Bitcoin Wallet Awakens After a Decade, Moves 687.33 BTC

On May 6, an unknown whale moved 687.33 BTC ($43.94 million at the time of the transaction) after a decade and three months of inactivity. Analysts at Lookonchain noted the event.

A wallet that has been dormant for 10.3 years transferred all 687.33 $BTC($43.94M) out 10 mins ago.

The whale received 687.33 $BTC($630K at that time) on Jan 12, 2014, when the price was $917.

Address: 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G pic.twitter.com/tEPqM0CrrK

— Lookonchain (@lookonchain) May 6, 2024

The assets were transferred to two new addresses in amounts of 625.43 BTC and 61.9 BTC.

At the time of receiving these coins on January 12, 2014, their value was $630,000. 

According to an April report by Chainalysis and Fortune, 1.75 million Bitcoin wallets have been inactive for over 10 years. They hold 1,798,681 BTC (~$121 billion at the time of the report), accounting for 8.5% of the total supply.

This count does not include approximately 30,000 addresses associated with the creator of the first cryptocurrency, Satoshi Nakamoto.

In late March, a wallet dormant for nearly 12 years moved all its 500 BTC, worth nearly $35 million, to several new addresses. 

In April, 246 BTC valued at $17 million were moved from a 10-year dormant wallet, and another 50 BTC (~$3.3 million) began moving after nearly 14 years.