As bitcoin’s price has drifted south, long-silent bitcoins have been stretching their legs after years in a deep freeze. This week, several sizable chunks have been on the move, peeling away from long-held vintage caches. On Monday, a wallet inactive for more than 13.5 years sprang to life, moving 909.37 BTC valued at $84.2 million.
Despite a Cooler Bitcoin Market, Vintage Wallets Moving Hundreds of BTC Reappear
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Early Bitcoin Holders Reorganize Stashes as Old Wallets Stir
Just two days ago, Bitcoin.com News reported that two bitcoin wallets from 2016 shifted 1,087.29 BTC worth more than $100 million. In the interim, even older stashes have been quietly on the move.
For example, on Sunday, btcparser.com flagged a 200 BTC transfer from a P2PKH (Pay-to-Public-Key-Hash) address created on July 9, 2013, to a newer Segwit wallet P2WPKH (Pay-to-Witness-Public-Key-Hash) address at block height 932778. Monday brought a far larger move, and it came from an even older wallet.
Whale Alert discovered a 909.3799125 BTC move from a wallet that was first created on June 30, 2012, at block 186935. Since it was created, the P2PKH wallet held 1,075.96764351 BTC in total, and the 909.37 BTC moved on Monday was also shuffled to a new and unknown P2WPKH address. This particular stash and the 200 BTC moved on Sunday, still remain in the new Segwit wallets (1, 2).
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The 909.37 BTC was locked in at block 932989, and in a neat bit of timing, a 10 BTC move from a long-silent wallet created on Jun. 21, 2012, popped up shortly beforehand at block height 932785. The string of awakenings paints a clear picture: older bitcoin wallets are stirring as prices drop lower, quietly reshuffling coins that have sat untouched for more than a decade.
FAQ 😴💤
- Why are old bitcoin wallets moving now?
Several long-dormant wallets appear to be reorganizing holdings as bitcoin prices ease, but it’s possible they could be preparing sales. - How old were the wallets involved in these transfers?
Some of the wallets were created in 2012 and 2013, making them more than a decade old. - How much bitcoin was moved in the latest transfers?
Recent large movements include 909.37 BTC, and 200 BTC. - Did these bitcoin transfers move coins to exchanges?
The funds were sent to new Segwit addresses, not directly to known exchange wallets.
