- Dormant Bitcoin wallets awaken, moving billions after 14 years silence.
- Whale Alert tracks 60,000 BTC shifted from early mining addresses.
- On-chain data links transactions to a 2011 Bitcoin whale.
Six dormant Bitcoin wallets, each holding 10,000 BTC, have unexpectedly reactivated after more than 14 years of complete silence. Blockchain tracking platform Whale Alert flagged the activity, revealing that a total of 60,000 BTC—currently valued at over $6.5 billion—was moved within a single day.
Four of the transactions took place within the past hour, while the remaining two occurred over the last 11 hours. All the wallets have not been used over the past 14 years, and the information indicates the assets were mined in the early days of Bitcoin mining. The simultaneous action of all six wallets has caused some significant interest in the crypto community.
Coinbase director Connor Grogan suggested that those wallets could belong to one Bitcoin miner in 2011. He mentioned that a single address used to store 200,000 BTC and, at current rates, it would have a value of about 22 billion dollars.
Grogan proposed that it may be related to an unmarked cold wallet owned by an exchange, albeit noting that it still smells of chain analysis.
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On-Chain Findings Link Activity to Early Bitcoin Whale
On-chain data from Lookonchain provided another layer of insight. The analytics firm linked the 60,000 BTC to a known early Bitcoin holder who controls eight wallets in total. Two of those wallets reportedly received 20,000 BTC on April 2, 2011, when Bitcoin was worth just $0.78. The other six wallets were funded on May 4, 2011, when Bitcoin traded around $3.37.
Each of the six wallets that transferred funds was inactive for over 14 years before the transfers. The other two wallets, containing a total of 20,000 BTC, are yet untouched. The total of the eight wallets amounts to 80,009 BTC, which is much more than 8.6 billion dollars now.
Speculation has intensified over whether the sudden activity signals possible sell-offs or allocations to new addresses. Some analysts believe the transactions may be internal reshuffling, while others suggest a deeper connection to long-time holders preparing for future moves.
The unexpected reactivation of these Satoshi-era wallets has activated over $6.5 billion worth of Bitcoin, creating renewed interest and speculation throughout the market.
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