featured

Bitcoin (BTC) Address Dormant For More Than 11 Years Moves $31 Million In BTC

After over 11 years of inactivity, a dormant Bitcoin address containing $31 million in BTC suddenly came to life recently. On July 22, 2023, the address transferred its entire balance to a new address.

Early BTC Address Comes Back To Life

Bitcoin has been around since 2009, so there are dormant addresses that have been inactive for years that contain large amounts of BTC. Some of the early adopters of this cryptocurrency were able to buy in very cheap but the private keys to many of these addresses have been lost, locking them forever. Every now and then, however, some of these addresses suddenly come back to life as the owner regains asses to the funds.

The address here was one of the earliest Bitcoin addresses. According to on-chain data, it received its first transaction of 1,037 BTC in November 2012. At the time, the price of each BTC sold for only $12.41. It then received regular small deposits of BTC over the years. With the price of Bitcoin now at $29,828, this sets the total price at just over $31 million.