Dormant Bitcoin Wallet After Nearly 14 Years Moves 100 BTC

A Bitcoin wallet dormant for nearly 14 years has suddenly become active, moving 100 BTC—now worth $8.5 million—to new addresses. By Lucas Nuzzi

A Bitcoin wallet, which has been dormant for nearly 14 years, has suddenly become active. The wallet, identified as “12znK,” was first created on August 2, 2011, when Bitcoin traded at just $13 per coin.

At block height 889,103, the wallet shifted its funds from a Pay-to-Public-Key-Hash (P2PKH) address to four Pay-to-Script-Hash (P2SH) addresses. Each of the new wallets now holds 24.99 BTC. Meanwhile, the linked 100 Bitcoin Cash (BCH), worth around $32,460, remains untouched.

Initially, the wallet was created with 1 BTC and then 99 BTC was added on 14 august 2011. At that time, the total worth of the holdings was $1,015.96, but with the BTC surge, the investment has increased by 836,493%.

According to analysis by a crypto privacy company, the transaction has a score of 50 out of 100 based on the patterns of address reuse.

The first generation of Bitcoin wallets, which were launched in 2009, are still very popular. However, the wallets from 2011 are already considered to be quite rare.

The sudden movement of old BTC has led to speculation about who may be behind it. Some believe that it could be an early Bitcoin adopter who is finally selling their coins. Others have suggested that it could be something more mysterious.

Also Read: Bitcoin Cash Node Down After Routing Malfunction Impacts Network Hashrate