$44M in BTC Moved from Address Inactive for 10 Years

Yesterday in the morning, a Bitcoin wallet that had been inactive for over a decade made a transfer, moved its entire balance of 687.33 BTC, worth more than $44 million.

According to Lookonchain, the wallet received the Bitcoins on January 12, 2014, when the price of one Bitcoin was $917. The reason for the transfer and the identity of the wallet’s owner are currently unknown.

This transfer is not an isolated event, as there have been other notable Bitcoin transfers in recent months. In March, the fifth richest address on the Bitcoin blockchain, which had been dormant since 2019, moved $6 billion.

Additionally, in the same month, an entity combined Bitcoins mined in 2010, worth $140 million, into a single wallet. In January, almost 50,000 dormant Bitcoins became active less than a week after the approval of spot Bitcoin exchange-traded funds in the United States.