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Two more old-school Bitcoin wallets from 2011 have been reactivated, with each holding 10,000 BTC. In just under an hour, more than $2.1 billion worth of Bitcoin was transferred. The coins were not touched for over 14 years, originally worth about $34,000 each when they were received.
This is the second time today that this has happened. Earlier, two more dormant addresses — also holding 10,000 BTC each — moved funds in the exact same way.
So far, 40,000 BTC tied to early mining or purchases have been moved today, and it all happened without centralized platforms.
What is strange is how the transfers occurred. Both wallets sent their full balances to new addresses at once. There are no small test transactions, no movement to known exchanges, just clean, high-value transfers to new, unidentified wallets. That is not typical for dormant holders, who usually start small to check access or security.
Bitcoin price reaction
Bitcoin's price dipped a bit after the second set of moves, dropping from above a $110,000 price tag to around $108,600. It is not a major correction, but the timing is spot on. In the common vision, these dormant wallet moves may indicate incoming market shifts or significant redistributions.
There is no sign that the coins are going to be sold — for now. But when a bunch of old wallets are sold on the same day, it is a red flag.
It could be a coincidence, internal reshuffling or something else entirely, but today's action has shown how a lot of Bitcoin that has been sitting around for a while is still out there and how fast it can get put to use again.
Vladislav Sopov
U.Today Editorial Team