Long-Dormant Bitcoins Reappear as Price Hits $111K—$7K Stash Now Worth $33M

On Wednesday, as bitcoin notched a new all-time high of $111,888 per coin, a cluster of 12 long-dormant wallets—each created over 12 years ago—collectively moved 300 BTC

On Wednesday, a cluster of 12 long-dormant bitcoin wallets, each created over 12 years ago, collectively moved 300 BTC, valued at approximately $33.3 million, as bitcoin notched a new all-time high of $111,888 per coin.

According to btcparser.com stats, a growing number of so-called ‘sleeping’ bitcoin addresses have been springing back to life during the current bull phase. In May alone, 29 wallets originally established in 2013 have transacted so far.

Notably, 12 of those reactivated just yesterday, when a single holder transferred 300 coins for the first time in well over a decade. Each of the 12 originated from P2PKH (Pay-to-PubKey-Hash) addresses generated in February and March 2013.

Each of the wallets transmitted 25 BTC between blocks 897762 and 897766, directing the funds to a P2WPKH (Pay-to-Witness-Public-Key-Hash) multi-signature wallet tagged “bc1q688.”

From that point, the coins were splintered into significantly smaller denominations and distributed across a wide array of P2WPKH addresses. Some of which are tagged by Arkham Intteliggence as being linked to Wintermute. According to Blockchair, the initial transactions earned a privacy rating of approximately 60 out of 100.

The sender employed the “send everything” function, likely to either facilitate payment or transition the holdings into a different wallet format using a single input. At the time of acquisition, those bitcoins were valued at roughly $24.65 per BTC, placing the total cache at just $7,395.

Since then, the entity’s holdings have appreciated by approximately 450,304%, marking an extraordinary leap in value over the intervening years.