An ancient Bitcoin wallet with a $3 million stockpile has awakened after years of dormancy, transferring part of its holdings to the Bitstamp crypto exchange.
Old Bitcoins on the Move
According to Arkham Intelligence, the wallet, containing $3.17 million in bitcoins, awakened after more than 13 years of inactivity. This event coincides with Whale Alert reporting that "a dormant address containing 50 BTC worth $3,173,594 has just been activated after 13.3 years." Arkham Intelligence states that this wallet had not made a single move since receiving the coins 13 years ago. Following its reactivation, the Bitcoin wallet sent 20 BTC worth $1.27 million to Bitstamp.
Another Incident of Old Wallet Activation
In a recent tweet, CryptoQuant highlighted an increase in the movement of old bitcoins, noting a significant rise in transactions involving coins of various ages. In another case reported by Arkham Intelligence, a bitcoin whale with $77 million BTC, mined in Bitcoin's first two months, recently transferred 5 BTC to Kraken. These wallets date back to the 'Satoshi era,' when Bitcoin's pseudonymous creator, Satoshi Nakamoto, was active on public forums between late 2009 and 2011. Arkham Intelligence estimates that this whale still possesses 1,215 BTC worth $77 million. According to his address, the Bitcoin stockpile was mined in February and March 2009, about two months after Bitcoin's launch.
Crypto World Activity
After several transactions from 2011 to 2014, the bitcoins in this wallet were then held dormant for nearly 10 years, during which they increased in value from $474,000 to over $80 million. This whale woke up around three weeks ago and so far has moved 10 bitcoins to Kraken in three separate transactions. This happened just days after another early bitcoin whale, who mined their bitcoins around the same time, woke up after 15 years of dormancy to move $16 million in BTC. These events raise the question of why these early bitcoin whale wallets are suddenly waking up.
The reactivation of old bitcoin wallets and the movement of large sums of money raise interest in the future of these assets and their potential impact on the cryptocurrency market.
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