May has emerged as a notable month for ‘sleeping bitcoin’ transactions, with a long-dormant address, inactive for ten years and six months, awakening on May 28 to move 145.89 BTC, valued at $9.8 million.
Dormant Bitcoin Address Awakens After a Decade, Moves $9.8 Million in BTC
This article was published more than a year ago. Some information may no longer be current.
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Over $109 Million in Bitcoin From 2013 Moved in May
After a much quieter April, May has witnessed numerous dormant bitcoin addresses becoming active after years of inactivity. Notably, a significant holder from 2010 reappeared this month, spending 2,050 BTC from a cache of block rewards.
Additionally, $9.6 billion in Mt Gox bitcoins was transferred on Tuesday morning. On the same day, May 28, 2024, at block height 845,533, another entity decided to transfer 145.89 BTC worth $9.8 million from a dormant 2013 address.
The wallet was initially created on Nov. 20, 2013, when BTC traded at $590 per coin. Consequently, the bitcoins were worth $86,075 on the acquisition day. If sold, the entity would realize an 11,388% gain against the U.S. dollar since Nov. 20, 2013.
The transaction was tracked and discovered by btcparser.com, and the funds moved from a Pay-to-Public-Key-Hash (P2PKH) address to another legacy-styled P2PKH wallet. The bitcoins moved again from the new address created on May 28.
However, the associated bitcoin cash ( BCH) remains inactive, valued at $68,181 for the 145.89 BCH. The transaction had two privacy issues, scoring a low 45 out of 100 in overall stealth due to the use of the “send everything” option (sweep) and repeated address inputs.
May has seen several 2013 ‘sleeping bitcoin’ transactions, with 17 occurring this month. A total of 1,613.93 BTC from 2013, valued at $109.39 million today, has been transferred over the past 29 days.
What do you think about the bitcoin holder who decided to move nearly $10 million in bitcoin after more than a decade? Share your thoughts and opinions about this subject in the comments section below.
