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BTC The Bitcoin wallet that had been sleeping for 14 years was suddenly activated, with 600 BTC worth more than US$51 million.
A Bitcoin (BTC) wallet that had not been used since 2012 completed all transfers on Tuesday, transferring 600 bitcoins it held to a new address. After more than 14 years of silence, the asset's market value has soared to more than $51 million.
Core Points
- The wallet first received Bitcoin in 2012, and this transfer is its first on-chain activity in 14.2 years.
- On-chain records show that funds were transferred to a new address rather than confirmed as a sale.
- In the past two weeks or so, four decades-old wallets have transferred a total of 1971 bitcoins, with a total value of approximately $161 million.
Detailed transaction analysis
Research firm Galaxy Research pointed out that the transfer occurred at 7:22 a.m. UTC on Tuesday. Data shows that the address first received Bitcoin on July 14, 2012, and then remained dormant for 14.2 years until a transaction was signed in block 968116.
On-chain data monitoring platform Lookonchains also noticed this development. According to its analysis, when the wallet obtained Bitcoin, the Bitcoin price was about US$8, so the initial position value was only about US$4800. At the time of the transaction, the bitcoin price was US$85,252.28, which brought the value of these 600 bitcoins to approximately US$51.15 million. According to Galaxy records, the transfer achieved approximately US$48.71 million in proceeds.
Market Background and Analyst Views
The large transfer occurred at a time when market sentiment was high. Analyst firm Glassnode pointed out that Bitcoin's MVRV (Market Capitalization to Realized Market Capitalization Ratio) indicator has once again exceeded the 365-day average. This signal appeared in the early stages of the bull market in 2019 and 2023.
Sean Farrell, head of digital assets at Fundstrat, said on Monday that although he warned that the upward path may not be straight, the "crypto winter" is over. As of 10 a.m. EDT on Wednesday, Bitcoin was trading at US$85,686, down approximately US$353 from the previous trading day.
Traders pay close attention to the movements of these ancient wallets. Analysts often interpret such transfers as a signal that early holders may be ready to sell, but funds may also have simply been transferred to new cold wallets or custodians. Currently, blockchain data only shows internal transfers between addresses and does not confirm sales behavior.
Long-term dormant wallets collectively "wake up"
This 2012 wallet is the latest recent case of multiple long-term dormant addresses being active. Between September 6 and September 22, four wallets that had been idle for more than ten years transferred a total of 1,971.03 bitcoins, worth approximately US$161 million. The largest of these came from a 2016 address and involved 1,260.78 bitcoins (worth approximately US$100.63 million); in addition, two 2011 wallets transferred 100 and 10.25 bitcoins respectively.
值得注意的是，这四个钱包中有三个带有“Noah Doe”标签。这一标签将它们与一起纽约州的诉讼案件联系起来，该案旨在宣布39,069个休眠钱包为遗弃财产。目前，法官已将此案搁置超过三个月。
尽管如此，Galaxy Digital研究主管Alex Thorn在今年夏天曾表示，第二季度的休眠币移动量已降至2022年以来的最低水平。此次大规模的活动打破了这一低迷趋势，引发了市场的广泛讨论。
