Dormant Bitcoin wallet from 2011 moves $6.59M after 13 years

A Bitcoin (CRYPTO:BTC) wallet inactive since August 2011 recently moved its balance for the first time in over 13 years, transferring 100 BTC, valued at $6.59 million. 

The transfer occurred on Monday at block height 865,649, according to data from btcparser.com. 

The wallet initially held its BTC in a Pay-to-Public-Key-Hash (P2PKH) address but split the funds into two separate wallets—one receiving 69.99 BTC and the other 30 BTC. 

The movement of such a large amount of Bitcoin from a long-dormant wallet has sparked interest within the crypto community. 

Blockchain analysis tool Blockchair assigned the transaction a privacy score of zero due to the identified matched addresses and a clean transfer of exactly 30 BTC, suggesting a potential intended recipient. 

Transactions involving round numbers, like this one, are often flagged for further scrutiny. 

Dormant wallets from 2011 are becoming increasingly rare, though they are still more common than transactions from the earliest days of Bitcoin in 2009. 

Earlier this month, another 2011 wallet moved just one Bitcoin, but the 100 BTC transfer marks the largest transaction from a dormant wallet between 2009 and 2017 so far in October. 

This transfer matches a similar movement of 100 BTC from a 2014 wallet earlier in the month. 

The reactivation of such wallets offers a glimpse into the early days of Bitcoin, reminding the crypto community of the vast amounts of dormant Bitcoin still untouched. 

At the time of writing, the Bitcoin price was $65,964.87.