Dormant Bitcoin Wallet From 2011 Awakens After Turning $120 Into $3 Million
Four long-dormant Bitcoin wallets awakened between Aug. 29 and Sept. 4, moving a combined 202.84 BTC worth roughly $15.73 million, according to Galaxy Research.
Why it matters
The Coinbase attribution on one transfer suggests potential selling pressure from long-dormant holders, though this is based on a single source. The activity extends a pattern of ancient wallets reactivating, which could signal shifting sentiment among early Bitcoin adopters.
Key facts
Four long-dormant Bitcoin wallets awakened between Aug. 29 and Sept. 4.
Reported by Decrypt
The wallets moved a combined 202.84 BTC worth roughly $15.73 million.
202.84 BTCReported by Decrypt
The largest wallet held 146.06 BTC (approximately $11.31 million) and had been untouched since November 2013.
146.06 BTCReported by Decrypt
A 40 BTC wallet dormant since November 2011 gained approximately 2,571,899% from an average cost of roughly $3.
2,571,899 %Reported by Decrypt
The 40 BTC wallet turned roughly $120 into more than $3 million.
3,000,000 USDReported by Decrypt
A 6.78 BTC transfer was tagged with a Coinbase recipient attribution.
6.78 BTCReported by Decrypt
An earlier wave of dormant wallet activity shifted roughly $40 million in 10 days.
40,000,000 USDReported by Decrypt
What happened
Galaxy Research reported that at least four ancient Bitcoin wallets activated between Aug. 29 and Sept. 4, moving a combined 202.84 BTC valued at roughly $15.73 million. The most notable wallet, holding 40 BTC and dormant since November 2011, realized a gain of approximately 2,571,899% from an average cost basis of roughly $3, turning about $120 into more than $3 million. The largest single wallet moved 146.06 BTC (approximately $11.31 million) and had been untouched since November 2013. A 6.78 BTC transfer carried a Coinbase recipient attribution, which Decrypt noted typically signals intent to sell. The moves continue a summer-long trend, following an earlier wave that shifted roughly $40 million in 10 days.
How the story developed
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Decrypt Crypto media | Ancient Bitcoin Wallet That Turned $120 Into $3 Million Wakes Up | Original |
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