Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » News » After 11-Year Slumber, Bitcoin Wallet Transfers $31M

After 11-Year Slumber, Bitcoin Wallet Transfers $31M

by

An inactive Bitcoin wallet has initiated a transfer of 1,037 BTC, an equivalent of $31 million at the time of writing, after remaining dormant for over a decade.

After 11-Year Slumber, Bitcoin Wallet Transfers $31M

Share this article

A Bitcoin wallet, idle for 11 years, has become active again, transferring all 1,037 BTC out – currently worth $31 million. This unexpected transaction happened on July 22, according to crypto statistics provider BitInfoCharts.

Blockchain data reveals that the wallet first received the Bitcoin stash back in April 2012, when each coin was valued at a modest $4.92, placing the entire hoard’s worth around $5,108. Data analytics firm Lookonchain confirmed these details on the same day of the transaction.

Interestingly, this movement is one of several substantial Bitcoin transactions, including the U.S. government’s transfer of nearly 10,000 BTC, equating to $299 million. This was related to the Silk Road seizure in March.

A different Bitcoin address transferred 2,071 BTC in April, nearly a decade after buying Bitcoin at $663, as per Lookonchain’s data.

Bitcoin isn’t the only coin on the move. A previously inactive Ethereum wallet holding pre-mined tokens worth $116 million made a surprising move, transferring all of its 61,216 ETH to a Kraken wallet on July 18 after laying dormant for eight years.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.