Bitaigen Research This article dissects the story behind a rare Bitcoin “sleeping” wallet that has resurfaced. Using on‑chain monitoring data, we trace its long‑absent activity trail and analyze what such sudden asset movements imply for market sentiment and potential risks. To learn about the possible motives behind this massive transfer and its far‑reaching impact on the industry, keep reading.
Bitcoin is currently oscillating around USD 60,000, briefly dipping to USD 49,000 on the 5th, and has displayed a V‑shaped reversal over the past five days. At the time of writing, the price stands at USD 60,640, down 0.96 % within the last 24 hours.
11‑Year‑Old Dormant Address Awakens
After eleven years of inactivity, the address transferred 190 BTC, equivalent to roughly USD 11.49 million at today’s price, representing an approximate 900‑fold return—one of the most extraordinary gains on record.
At around 03:30 UTC+8 on May 5 2023, the address that first received 190 BTC on March 24 2013 (then worth about USD 12,125) suddenly moved the entire balance to a new address. The receiving address has not shown any further outgoing transactions so far.
- Transfer time: 2023‑05‑05 03:30 UTC+8
- Amount transferred: 190 BTC
- Value at that time: ~USD 12,125
- Current value: ~USD 11,490,704
The exact reason for the transfer has not been disclosed; possibilities include asset management decisions, mnemonic‑phrase recovery, or other internal considerations.
“Satoshi‑Era Miner” Moves 250 BTC
On May 7, Lookonchain observed another address that had been dormant since May 2010 suddenly become active, sending 250 BTC (about USD 14 million) to five fresh addresses. These coins originated from the original block rewards of 50 BTC per block back in 2010.
- Dormancy period: roughly 13 years
- Amount transferred: 250 BTC
- Original reward: 50 BTC block reward in 2010
Activations of such OG wallets often draw market attention because large‑scale holdings entering exchanges could sway short‑term price dynamics. Whether the coins will be further moved or sold remains to be seen and warrants ongoing monitoring.
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The above provides a complete overview of dormant Bitcoin addresses re‑activating, moving assets worth over ten million USD, and achieving an approximate 900‑fold unrealized gain. For future updates, follow reports from Bitaigen (比特根).
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