Two dormant Bitcoin wallets, holding a total of 1,000 bitcoins valued at $61 million, came to life after a decade of dormancy.
The first wallet moved its 500 bitcoins on May 12, followed by the second wallet two blocks later. These wallets received bitcoins in 2013, when prices were $134, and are worth $61.2 million currently. One wallet quickly sends its Bitcoin to various addresses, while the other still holds onto its share.
Blockchain experts paired these transactions, suggesting they belonged to the same entity. Before this, both wallets were among the 4,353 largest Bitcoin holders. This event follows a recent 687 Bitcoin transfer from an early-era wallet, sparking curiosity about dormant wallets’ motives.
Analysis shows that 1.8 million Bitcoin addresses have been inactive for over ten years, holding $121 billion worth of Bitcoin, excluding Satoshi Nakamoto’s wallet. Speculation ranges from potential sales to securing funds in noncustodial wallets.
This awakening highlights ongoing intrigue in Bitcoin’s early adopters and their actions, influencing market sentiments and sparking discussions about long-term holding strategies.
Also Read: Bitcoin Whales Accumulate $941M as Fed Delays Rate Cuts
