Dormant Bitcoin wallet from 2014 moves BTC worth $10.2m

The transaction fee for the transfer was 67,500 satoshis, or $39.43, which is considerably low. However, per mempool details, this was still an overpayment of 50x that saw the $10.2 million transaction confirmed quickly.

In October 2018, the wallet’s holdings totaled about $896,000, and crossed the $5 million mark in late January 2021.

According to data on blockchain explorer Blockchair, the addresses’ balance currently stands at 0.00004226 BTC, worth $2.50 at the current Bitcoin price of $59,300.

Bitcoin wallets waking up

The last few months have seen a rising frequency of dormant Bitcoin addresses waking up to move millions of dollars worth of BTC. It’s notable that Satoshi-era addresses — those holding coins mined in the first few months of Bitcoin creator Satoshi Nakamoto’s time — have not been common.

However, the past few months have seen multiple dormant wallets suddenly move, including one that woke up after a 12-year hibernation to transfer $6.9 million in BTC in July this year. Another wallet sent $3 million in BTC to Binance in June after being dormant for over 14 years.

Whale Alert also spotted this other dormant wallet movement.