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Two dormant Bitcoin addresses created in 2010 became active on Nov. 13, transferring a combined 100 BTC worth approximately $6.89 million after 16.2 years of inactivity, according to U.Today.
Earlier reporting: Bitcoin options traders raise sub-$70,000 Christmas odds to 31 percent.
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As of 07:08 UTC, Bitcoin traded at $69,140, -5.9% over 24 hours, with $41.4 billion in 24-hour volume.
Blockchain tracking platform Whale Alert reported that the first address held 50 BTC, valued at $3,442,939 at the time of the transfer. Minutes later, a second address holding an identical 50 BTC became active, moving funds worth $3,442,129. The two transactions occurred within minutes of each other on Nov. 13.
Satoshi-Era Holdings
The addresses date to 2010, a period known as the Satoshi era, when the pseudonymous founder of Bitcoin, Satoshi Nakamoto, was active in the network’s development. Bitcoin launched in January 2009 with an initial block reward of 50 BTC, a rate that remained in effect until the first halving in November 2012.
The 50 BTC holdings in both newly activated wallets match the standard block reward miners received during those early years. In the initial days of Bitcoin, the 50 BTC in these addresses were worth just $3. There is no confirmation regarding the current owners of these wallets, nor is it established whether a single individual or entity controls both addresses.
Recent Dormant Wallet Activity
The Nov. 13 activity follows a series of long-dormant Bitcoin address activations over the past month. On Oct. 22, Whale Alert tracked an address holding 170 BTC worth roughly $14.38 million becoming active after 13 years of dormancy.
On Oct. 20, another dormant address holding 500 BTC worth approximately $41.54 million became active after 10.7 years. In 2016, those holdings were valued at $194,955. Crypto analytics platform Arkham later linked that 500 BTC transaction to addresses associated with convicted Irish drug dealer Clifton Collins, whose crypto holdings had previously been considered inaccessible.
Earlier, on Oct. 17, Whale Alert recorded activity involving two old Bitcoin addresses holding 248 BTC and 167 BTC, valued at roughly $20.24 million and $13.65 million, respectively.
Source: U.Today
