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BTC Bitcoin, which has been sleeping for 16 years, changed for the first time: 100 BTC pieces were transferred, resulting in a profit of more than 108 million %.
According to Galaxy Research data, a transfer activity occurred on Wednesday at a Bitcoin address that has not been used since July 30, 2010. The amount involved this time is 100.02 BTC, which is the first time the coins have been moved in more than 16 years.
Huge book gain and zero-cost base
Galaxy pointed out that the coins were worth approximately US$8.55 million when moved, and their cost base was close to zero, meaning the potential yield exceeded 10800%.
Galaxy Research wrote on Platform X (formerly Twitter):"Unspent Transaction Outputs (UTXOs) of 100.02 BTC (worth US$8.55 million) have been idle for 16.2 years since it was first received on July 30, 2010-just moved in block 970379."
According to Galaxy, the transfer was confirmed at around 18:52 UTC on Wednesday, and the funds came from an address that has held the coins since Bitcoin founder Satoshi Nakamoto was active.
Dispute and clarification on the definition of "dormant"
Not everyone accepts this "dormant" label. Some X users questioned this, pointing out that the address had recorded other transactions in the past few years.
In response to the criticism, Alex Thorn, Galaxy's global research director, replied: "[T] is that the coin is dormant. [T]The full text of the alert clearly refers to UTXOs." He later said that in addition to the alarm based on the coin status, he also added an alarm based on the sleep status of the address and reworded the two alarm types to clearly distinguish the concepts between the two.
This distinction stems from the way Bitcoin records balances. The Bitcoin network tracks independent unspent transaction outputs (UTXOs) rather than the total account balance. As a result, an address can send and receive other coins (including tiny "dust" payments) while old coins at the same address remain unspent.
Blockchain data shows that the address sent hundreds of BTC between 2015 and 2018, but did not touch the 2010 coins.
Market background and safety warnings
Galaxy has been tracking dormant coins for months. The company reported in July that the movement of dormant bitcoins had dropped to its lowest level since 2022.
Meanwhile, Ethereum co-founder Vitalik Buterin warned this week that investors should avoid rushing wallet migrations given the security risks associated with artificial intelligence.
As of press time, the price of Bitcoin is approximately US$81,430 per coin, and the value of this 100.02 BTC is approximately US$8.14 million (Data source: CoinMarketCap).
