A Bitcoin wallet that had been inactive for over a decade has recently sprung back to life, transferring its entire contents of over 1,037 Bitcoin, valued at around $31 million. The anonymous owner of the wallet had purchased the Bitcoin back in 2011 for just $4.92 each, marking an increase of over 600,000%.

The wallet's activity was detected when the Bitcoin was transferred at a price of $29,956 per coin. The transaction took place at block height 799701, or around 10:51 am UTC on July 22, as reported by BitInfoCharts. The wallet had originally acquired the Bitcoin on April 11, 2012, when the price of Bitcoin was a mere $4.92. At that time, the Bitcoin stash was valued at approximately $5,108.

The recipient of the $31 million was a new wallet address, “bc1qt180…”. The original wallet's balance had peaked at $71.6 million when Bitcoin reached its all-time high of $69,044 on Nov. 10, according to CoinGecko.

In recent times, the US government has been one of the largest movers of Bitcoin, having transferred nearly 10,000 BTC, worth around $299 million, in a series of transactions on July 12 related to the Silk Road seizure. The destination of these transactions remains unclear.

In other notable wallet movements, on June 11, an unknown Bitcoin whale transferred 1,400 BTC, valued at $36 million, to a Pay-to-Taproot address. In April, another Bitcoin address moved 2,071 BTC, worth $60 million, almost a decade after purchasing the Bitcoin at $663. Three months prior to that, a massive transfer of 26,056 BTC, worth $250 million, was made by another Bitcoin address. At Bitcoin's all-time high, this wallet was valued at over $1 billion.

Despite these high-value transfers, over 55% of Bitcoin has not moved in over two years, as per data from on-chain analytics firm Glassnode. As of now, Bitcoin is priced at $30,082. While Bitcoin's price has seen an increase of 81.8% in 2023, it is still down 56.4% from its all-time high reached in November 2021, according to CoinGecko.