Wallet containing 60 million USD Bitcoin "awakens" after nearly 12 years

A Bitcoin wallet that has been "hibernating" for nearly 12 years suddenly transferred 1,000 Bitcoin (BTC), equivalent to about 60 million USD.

1,000 BTC is about to be transferred after 12 years

According to on-chain findings, a whale wallet that received 1,000 BTC in 2012, worth about 12,000 USD at that time, suddenly transferred this amount of Bitcoin to a new address after nearly 12 years of "inactivity".

This wallet received 1,000 BTC 11 years and 9 months ago and did not generate any transactions until last Sunday. However, according to Blockchain.com, this transaction took place on January 19, 2024.

Whale wallet discovered by Whale Alert. At that time, the amount of Bitcoin in the wallet was only worth about 12,100 USD. After nearly 12 years of holding, their value has increased by 500,000%.

💤 💤 💤 💤 💤 💤 A dormant address containing 1,000 #BTC (59,989,823 USD) has just been activated after 11.8 years (worth 11,908 USD in 2012)!https://t.co/JOJTymSWal— Whale Alert (@whale_alert) July 14 , 2024

The reason for this transaction as well as the identity of the wallet owner is still unknown. As of the time of writing, this wallet is holding about 41.6 million USD.

The awakenings of other whale wallets

A series of Bitcoin "giant" wallets, inactive for 5 years or more, have come to life recently. Just 10 days ago, another wallet had been dormant for 12 years, transferring nearly 7 million USD.

On May 12, 1,000 BTC worth more than 60 million USD was transferred after a decade. This move followed a deposit of 687.33 BTC – worth more than $44 million – also “bobbing” for the first time in 10 years, just a week earlier.

In March, the wallet with the 5th most Bitcoin in the world, which had been "hibernating" since 2019, suddenly transferred out 6 billion USD. Another entity also combined $140 million in Bitcoin mined in 2010 into a single wallet in the same month.

This January, nearly 50,000 dormant Bitcoins woke up less than a week after the Bitcoin Spot ETFs launched in the United States.

Normally, wallets that deposit money into exchanges are most likely for sale. However, with transactions transferring money to other wallets, it is to increase security, and still maintain the tendency to keep the assets in possession.

According to Chainalysis and Fortune, there are currently 1.75 million Bitcoin wallets that have been inactive for over a decade. It is estimated that these wallets contain about 1.8 million Bitcoin, worth $120 billion, accounting for 8.5% of the total supply.

Bitcoin price not only did not decrease but also increased sharply to nearly 62,700 USD on the morning of July 15, it seems that the crypto market is still reacting to the news that US Presidential candidate Donald Trump was almost assassinated yesterday.