Following the activation of a dormant bitcoin address from 2017, which transferred 210 bitcoins at block height 854,501, another inactive wallet created on April 9, 2017, moved 777.91 BTC worth over $52 million roughly 35 blocks later. Notably, the owner of the bitcoin might be the same entity that moved 121.63 BTC a day ago from another old wallet created on the exact same day.
Bitcoin Giant Moves 777.91 Bitcoins Worth $52M After 7 Years
This article was published more than a year ago. Some information may no longer be current.
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Dormant Bitcoin Addresses From 2017 Continue to Come Alive
Earlier today, Bitcoin.com News reported a transaction involving a BTC wallet that transferred 210 BTC from an address established on July 27, 2017. The day before, a wallet created on April 9, 2017, moved 121.63 BTC for the first time in seven years.
Now, another significant 2017 address has been reactivated after remaining inactive since April 9, 2017. This time, at block height 854,536, the entity transferred approximately 777.91 BTC.
The stash, now worth $52 million, was valued at around $923,379 when acquired, with BTC trading at $1,187 per coin at the time. While most were paying 5 to 136 satoshis per virtual byte (sat/vB) at that time, the user spent 17,114 sat/vB, or about $11.46 to transfer the funds.
Blockchair’s privacy tool rated the transfer 0 out of 100, identifying three critical privacy issues. About 712.91 BTC went to an unknown address, and 65 BTC was sent to another wallet.
The larger sum was consolidated into a Pay-to-Public-Key-Hash (P2PKH) legacy wallet, while the smaller sum went to a Pay-to-Witness-Public-Key-Hash (P2WPKH) address. Both amounts remain in the new wallets presently.
Before this transaction, 759.03 BTC had been sent from dormant 2017 wallets in July, doubling the total to 1,536.94 BTC moved for the first time in seven years. At current exchange rates, this value is $103.25 million as of 5:30 p.m. EDT on July 29, 2024.
What do you think about the giant sleeping bitcoin wallet that woke up on Monday? Let us know what you think about this subject in the comments section below.
