Bitcoin Wallet From 2011 Sends $10M in BTC After 13-Year Slumber

Seeing wallets from 2011 reawaken is a rare spectacle, but October has already brought two such events. While old bitcoin rarely moves, rising prices

A bitcoin wallet that lay dormant for over 13 years has sprung back to life, sending 150 BTC, valued at $10.17 million, in the latest movement of old bitcoin.

The wallet, created on June 27, 2011, transferred the coins on Oct. 16 at block height 865,917. At the time of the wallet’s creation, each BTC was valued at $16.45, making the original worth of those 150 BTC just $2,467.50.

Bitcoin Now Worth $68K as Old Coins Continue to Shift, Triggered by Rising Prices

Now, if the coins were sold, the owner would enjoy a staggering gain of 412,462.97%. The funds were sent from a legacy P2PKH (Pay to Public Key Hash) wallet. Of the 150 BTC, 99.99 was sent to another P2PKH wallet, while 50 BTC were transferred to a P2SH (Pay to Script Hash) address.

Using Blockchair’s privacy tool, the matched addresses revealed that one of the outputs had a round value. However, the privacy rating for the transfer was a dismal zero out of 100, according to Blockchair’s tool.

As of 5 p.m. EDT on Wednesday, the bitcoin remains in the P2PKH and P2SH output wallets. Interestingly, the structure of this 150 BTC transfer mirrors a similar one from two days prior, where 100 BTC was moved from another 2011 wallet.

That transaction also scored zero for privacy due to similar errors. While the previous 2011 transaction tied for the largest dormant bitcoin move with another transfer of 100 BTC from a 2014 wallet, this new 150 BTC transfer now holds the title for the largest from a pre-2017 wallet.

Moreover, data from Arkham Intelligence shows that the round value transfers from both 2011 transactions were sent to Bitstamp. This suggests that the same individual moved both the 100 BTC on Monday and the 150 BTC on Wednesday, ultimately sending a cumulative total of 80 BTC—worth $5.42 million—to the centralized exchange Bitstamp.

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