On Monday, as bitcoin began bouncing back from its recent dip to $52,546 just three days earlier, a dormant bitcoin wallet suddenly sprang to life. For the first time since Nov. 20, 2013, the wallet moved 146.43 BTC, a stash now valued at just over $8 million.
Dormant Bitcoin Wallet From 2013 Springs to Life With $8M Transfer
This article was published more than a year ago. Some information may no longer be current.
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Old Bitcoin Wallet Transfers 146 BTC After Nearly 11 Years of Inactivity
A long-dormant bitcoin address, first activated on Nov. 20, 2013, spent 146.43 BTC for the first time in nearly 11 years. This was the largest dormant BTC movement of September so far, according to btcparser.com. The funds were initially stored in a legacy Pay-to-Public-Key-Hash (P2PKH) address and sent to another wallet of the same type.
Blockchair’s privacy tool rated the transaction a “low” 45 out of 100. The low score was due to the address being swept and because the same address appeared multiple times in the inputs. Curiously, before the 146.43 BTC transfer, a smaller transaction of 10.27 BTC was made from a wallet created on Nov. 28, 2013.
The 10.27 BTC transfer was confirmed in block 860,586, while the larger sum was moved in block 860,607. The 10.27 BTC wallet gradually accumulated this balance, starting with its first 1 BTC deposit on Nov. 28, 2013. Like the larger transfer, it was also a sweep, with the sender using the same address for both receiving and change and the same address showing up in multiple inputs.
Interestingly, Blockchair’s privacy tool gave the 10.27 BTC transaction a privacy score of zero out of 100. Given that both wallets were created in Nov. 2013, it’s likely the same individual owned them. However, the odd way the first small transfer was spent resulted in a lower privacy score, raising the possibility that it could be an entirely different owner, with the shared creation date just a coincidence.
What do you think about the individual who moved $8 million in bitcoin from a dormant 2013 address on Monday? Share your thoughts and opinions about this subject in the comments section below.
