Decade-Long Dormant Bitcoin Whale Wallets Activate, Shift $61M in BTC

Two Bitcoin wallets that had been inactive for a decade have suddenly sprung to life. These wallets, which held a total of 1,000 Bitcoin, worth around $61 million, made significant transfers recently. The first wallet, with the address “16vRq…qjzEa,” transferred its entire 500 Bitcoin on May 12. Just two blocks later, the second wallet with the address “1DUJuH…NgfC5” also sent out its 500 Bitcoin. Both wallets had received the Bitcoin back in 2013 when the price was just $134, making the current value of the transferred amount a staggering 456 times more.

Interestingly, after receiving the Bitcoin, one of the wallets immediately started transferring the funds to various other addresses, while the other wallet has held onto its 500 Bitcoin. The close timing of the incoming and outgoing transfers has led experts to believe that these two wallets were likely owned by the same individual or entity. Prior to the recent transfers, these wallets ranked as the 4,353rd largest Bitcoin holders.

This event comes shortly after another early Bitcoin wallet, believed to be from the time of Satoshi Nakamoto, the creator of Bitcoin, made transfers totaling 687 Bitcoin, worth $43.9 million. It has become somewhat of a monthly occurrence for dormant Bitcoin wallets to wake up, although it’s unclear why they do so. Chainalysis and Fortune recently analyzed such dormant wallets and found that there are nearly 1.8 million addresses that have remained inactive for over a decade, excluding Nakamoto’s wallet. These wallets collectively hold around $121 billion worth of Bitcoin, accounting for 8.5% of the total supply.

Speculation around the sudden activity in dormant wallets is rife. Some believe that their owners may be timing the sales to capitalize on favorable market conditions, while others argue that the funds might be getting transferred to more secure noncustodial wallets. With Bitcoin currently priced at $61,450 and its value having surged by 130% in the past year, it’s unsurprising that people are attentively watching any movements in these dormant accounts.

11 thoughts on “Decade-Long Dormant Bitcoin Whale Wallets Activate, Shift $61M in BTC

  1. It’s unfair that these wallets suddenly wake up just to take advantage of the surging Bitcoin prices. They’re just adding to the volatility of the market.

  2. This is just another example of the rich getting richer while the rest of us suffer. It’s sickening.

  3. It’s infuriating how one person can suddenly become ridiculously wealthy off of something they forgot they even had. Talk about unfair!

  4. I can only imagine the rollercoaster of emotions the owners of these dormant wallets must be experiencing right now. Thrilling!

  5. I can’t help but wonder if these dormant wallets waking up is a sign of more activity to come. πŸ“ˆπŸš€ Exciting times for Bitcoin! πŸŒŸπŸ’°

  6. This is a great reminder that Bitcoin is here to stay, and its potential is still being unlocked even after all these years.

  7. I can’t even imagine what it feels like to suddenly have $61 million worth of Bitcoin! 😱🀯 Talk about a life-changing event! πŸŽ‰πŸ’Έ

  8. Whoa, that’s some serious money being transferred! These wallets are definitely making a splash in the crypto world.

  9. Wow, must be nice to have millions lying around in forgotten Bitcoin wallets while the rest of us struggle to make ends meet.

  10. Seriously, what’s the point of having Bitcoin if you’re just going to forget about it and let it sit for years? It’s a waste.

  11. With the value of Bitcoin skyrocketing, it’s no wonder that dormant wallets are awakening. The potential for profit is immense!

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