On May 12, two wallets inactive for over a decade transferred 1,000 BTC (~$61 million) to new addresses. This activity was noted by Lookonchain.
2 wallets that have been dormant for 10.7 years transferred all 1,000 $BTC($60.9M) out in the past 20 mins.
Wallet”16vRqA” received 500 $BTC($62K at that time) on Sept 13, 2013, when the price was $124.
Wallet”1DUJuH” received 500 $BTC($62K at that time) on Sept 12, 2013, when… pic.twitter.com/l5ivjrcRt5
— Lookonchain (@lookonchain) May 12, 2024
On September 12, 2013, the wallet “1DUJuH” received 500 BTC ($62,000 at that time) when the price of the leading cryptocurrency was $124. The address “16vRqA” was credited with the same amount the following day at similar rates.
The outgoing transactions occurred 20 minutes apart. The proximity in dates and times led to speculation that the funds belong to a single user.
One of the transferred sums of 500 BTC has already been distributed across approximately 200 new addresses.
According to an April report by Chainalysis and Fortune, 1.75 million bitcoin wallets have been inactive for more than 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.
However, long-dormant wallets occasionally “awaken.” At the end of March, the owner of a 12-year inactive address moved all 500 BTC, worth nearly $35 million, into smaller deposits.
In April, a wallet inactive for 10 years transferred 246 BTC valued at $17 million, and another 50 BTC (~$3.3 million) began moving after nearly 14 years.
In early May, an unknown whale moved 687.33 BTC ($43.94 million at the time of the transaction), which had also been dormant for 10 years.