On March 3, 2025, while bitcoin ( BTC) traded between $92,809 to $93,206 per coin, six distinct addresses initially generated in 2011 transferred about 250 BTC—valued at roughly $23 million—for the first time in 12 years.
Twelve-Year-Old Bitcoin Wallets From 2011 Spark a $23 Million Wake-up on Monday
This article was published more than a year ago. Some information may no longer be current.
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Old-School BTC Holders Resurface, Move 350 Coins to New Addresses and Exchanges
Around 250 BTC departed six legacy P2PKH (Pay-to-Pubkey-Hash) format wallets on Monday, Mar. 3, at block heights 886069, 886124, 886126, 886127, and 886132. BTC began January 2011 at $0.30 and concluded the year at $4.25 per coin. That same year, the price attained a record $29.60 per unit in the second week of June.
On Monday, the earliest wallet—established on Feb. 9, 2011—transferred 55 BTC from its legacy repository to a modern native segwit address. Within that very block (886069), btcparser.com stats show the owner relocated 45 BTC from an address generated on Feb. 8, 2011, to the same segwit address, which currently safeguards 100 BTC undisturbed. Afterward, 10 BTC departed a wallet instantiated on June 28, 2011, and this allotment found its way into a wallet linked to 3IQ Corp., a Canadian digital asset investment fund manager founded in 2012.
Subsequently, an address born on June 29, 2011, transmitted 30 BTC, with 8 BTC of that sum redirected to a deposit address tied to Revolut. Next, a wallet from May 16, 2011, transferred 50 BTC, which landed in an unidentified yet newer segwit address. Soon after, a legacy P2PKH address shifted 60 BTC that wound up in a more recently created P2SH (Pay-to-Script-Hash) wallet. While the 2011 wallets altogether moved 250 BTC from days of old, amid this activity, a legacy wallet established on Apr. 6, 2013, propelled 101.97 BTC.
Every satoshi of that 101.97 BTC ended up in a deposit address linked to Kraken. One thing is evident: over the past five years, if not longer, third parties and centralized exchange ( CEX) venues such as Coinbase, Kraken, Revolut, Bitstamp, and others have received antique bitcoins for either safekeeping or liquidation. In fact, just today, 351.97 BTC ($32.6M) originating from old-school wallets stirred for the first time in well beyond a decade.
