Decade-Long Dormant Bitcoin Address Awakens, Transfers $43.9 Million

A Bitcoin address, dormant for over a decade and dating back to the time of Satoshi Nakamoto, recently stirred the crypto community as it came to life. The wallet, containing 687 BTC (approximately $43.9 million), moved on May 6, transferring its holdings to two separate wallets.

The transfer included 625.43 BTC to an address beginning with “bc1qky” and 61.9 BTC to “bc1qdc.” Such movements from ancient wallets, especially those from the Satoshi era, never fail to pique curiosity among crypto enthusiasts.

The term “Satoshi era” refers to the period after Bitcoin’s creation when its mysterious founder, Nakamoto, actively participated in online forums. Wallets from this era are often speculated to be linked to Satoshi himself.

In August 2023, another wallet that had been dormant for almost 14 years came to life, transferring 1,005 BTC mined in 2010. This movement also sparked speculation, with many suggesting it might be Satoshi’s wallet. However, experts believe these wallets are more likely associated with early miners or investors seeking profits.

According to a Fortune report, approximately 1.75 million Bitcoin wallets have remained inactive for over a decade. Many of these wallets hold significant BTC holdings, acquired when Bitcoin’s price was double-digit and is now valued in millions.

In total, these dormant wallets contain 1,798,681 Bitcoin, worth around $121 billion at current prices.

Over the past few years, several dormant Satoshi-era wallets have been reactivated, often transferring their BTC holdings to new addresses or crypto exchanges. For instance, in July 2023, a wallet inactive for 11 years transferred $30 million to BTC. Similarly, in November 2023, three wallets, dormant for six years, transferred $230 million to BTC. These wallets are believed to be connected to the same individual or organisation, as their last transactions were made on Nov. 5, 2017.