A Bitcoin wallet, dormant for nearly 14 years, has suddenly become active, moving 100 BTC—now worth $8.5 million—to new addresses. The wallet, identified as “12znK,” was first created on August 2, 2011, when Bitcoin traded at just $13 per coin.
At block height 889,103, the wallet shifted its funds from a Pay-to-Public-Key-Hash (P2PKH) address to four Pay-to-Script-Hash (P2SH) addresses. Each of the new wallets now holds 24.99 BTC. Meanwhile, the linked 100 Bitcoin Cash (BCH), worth around $32,460, remains untouched.
Initially, the wallet was created with 1 BTC and then 99 BTC was added on 14 august 2011. At that time, the total worth of the holdings was $1,015.96, but with the BTC surge, the investment has increased by 836,493%.
Privacy analysts gave the transaction a score of 50 out of 100 based on the patterns of address reuse. Although the first generation of Bitcoin wallets from 2009 is still popular, the wallets from 2011 are already considered rare.
The sudden movement of old BTC causes people to wonder if it was an early adopter selling, or something more mysterious?
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