Bitcoin Whale Wallets Transfer $61M in BTC After 10 Years

Blockchain experts paired these transactions, indicating they belonged to the same entity, previously among the top 4,353 Bitcoin holders.

Written By:
Ronak Kumar

Last updated: May 13, 2024 4:43 PM

Published May 13, 2024 9:12 AM

Last updated: May 13, 2024 4:43 PM

Published May 13, 2024 9:12 AM

Two dormant Bitcoin wallets, holding a total of 1,000 bitcoins valued at $61 million, came to life after a decade of dormancy.

2 wallets that have been dormant for 10.7 years transferred all 1,000 $BTC($60.9M) out in the past 20 mins.

Wallet"16vRqA" received 500 $BTC($62K at that time) on Sept 13, 2013, when the price was $124.

Wallet"1DUJuH" received 500 $BTC($62K at that time) on Sept 12, 2013, when… pic.twitter.com/l5ivjrcRt5
— Lookonchain (@lookonchain) May 12, 2024

The first wallet moved its 500 bitcoins on May 12, followed by the second wallet two blocks later. These wallets received bitcoins in 2013, when prices were $134, and are worth $61.2 million currently. One wallet quickly sends its Bitcoin to various addresses, while the other still holds onto its share.

Blockchain experts paired these transactions, suggesting they belonged to the same entity. Before this, both wallets were among the 4,353 largest Bitcoin holders. This event follows a recent 687 Bitcoin transfer from an early-era wallet, sparking curiosity about dormant wallets’ motives.

Analysis shows that 1.8 million Bitcoin addresses have been inactive for over ten years, holding $121 billion worth of Bitcoin, excluding Satoshi Nakamoto’s wallet. Speculation ranges from potential sales to securing funds in noncustodial wallets.

This awakening highlights ongoing intrigue in Bitcoin’s early adopters and their actions, influencing market sentiments and sparking discussions about long-term holding strategies.