With Bitcoin's price up 6.8% from last week, a dormant address from 2013 activated for the first time in over 11 years, transferring 114.42 bitcoins valued at $7.67 million.

Dormant Bitcoin Wallet Activates After 11 Years, Transfers 114 Bitcoins

April and May have seen fewer activations of long-dormant Bitcoin addresses, but notable events have occurred. On May 20, a legacy Pay to Public Key Hash (P2PKH) address transferred 114.42 BTC to another P2PKH wallet. This address, created on February 2, 2013, had been inactive for 4,125 days. Back then, each BTC was worth $20.50, making the original value of the funds approximately $2,345.

As of May 20, 2024, the transferred bitcoins are valued at $7.67 million at current exchange rates. If the owner sold them, the return on investment would be 37,451,348% since acquiring the bitcoins on February 2, 2013. The transferred funds remain in the new P2PKH wallet at this time. However, the 114.42 bitcoin cash (BCH) linked to the original address, worth about $55,517, was not moved.

Blockchair rated the transaction’s privacy low, at 45 out of 100, due to multiple occurrences of the same address in inputs and the use of the “send everything” option. This transaction follows other recent movements of dormant Bitcoin from 2013, including 36.2 BTC on Thursday and two transfers of 50 BTC each on Wednesday. Earlier in the month, another 2013 wallet moved 26.6 BTC for the first time in over a decade, just before another 2013 wallet transferred 1,000 bitcoins.

What are your thoughts on the sudden movement of more than 114 bitcoins from a 2013 wallet on Monday? Share your opinions in the comments below