Bitcoin (BTC) Wallet Wakes Up After 15 Years of Slumber... "From $3 to $1.7 Million"

▲ Bitcoin (BTC), Cryptocurrency Wallet/ChatGPT Generated Image

An early Bitcoin (BTC) wallet, which had been dormant for 15 years since its creation in 2011, has suddenly become active, leading to the detection of asset movements worth approximately $1.7 million.

According to the cryptocurrency media outlet U.Today on September 30 (local time), blockchain analytics firm Galaxy Research announced that a total of 20.43 BTC was transferred in two transactions from a Bitcoin wallet that had remained inactive since May 2011 to other addresses. The current value of the transferred amount is approximately $1,724,000.

It is estimated that the Bitcoin held in this wallet was initially purchased at a price of only $3 to $4 per coin. According to Galaxy Research's analysis, the bundle of 10.33 BTC recorded a return rate of 2,192,671% based on an average purchase price of approximately $4, resulting in an unrealized gain of approximately $872,000. The remaining 10.10 BTC was also identified as being acquired at around $3 per coin, demonstrating astronomical returns from long-term holding. The identities of the sender and receiver addresses were not disclosed.

In September, a series of fund movements from ancient Bitcoin wallets, dormant for over 10 years, have become prominent. Previously, 10.25 BTC moved from a wallet that had been inactive since March 2011, followed by the transfer of 100 BTC, worth approximately $8.09 million, from a wallet created in 2011 on September 19. Subsequently, on September 22, a wallet that had been locked since July 2012 also became active, moving 600 BTC, amounting to approximately $51.9 million.

On-chain experts note that while the movement of funds from old wallets could simply be a change of custodian or a re-organization of wallets for security purposes, it is also being watched as a supply-side volatility factor, as it could lead to profit-taking by early miners or long-term holders at market highs.

[Key Article Summary]

-20.43 BTC was transferred from a Bitcoin wallet that had been frozen for 15 years since May 2011.

-The initial acquisition cost was around $3 to $4 per coin, recording an unrealized gain of over 2,190,000%.

-In September, large-scale fund movements from long-term dormant wallets created in 2011 and 2012 have been continuous.

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