A Bitcoin wallet that has been inactive for nearly 12 years has suddenly moved all 500 BTC it held, according to on-chain data. The last transaction from this wallet was recorded in July 2012 when the Bitcoin price was only $8.
The wallet’s movement was tracked by Lookonchain, who shared the data on March 30. The wallet had been dormant since July 2012, and the last transaction sent 500 BTC to the wallet when the price of Bitcoin was only $8.
In a tweet, Lookonchain revealed that the wallet, which received 500 BTC at the time, has now transferred the coins to multiple new addresses. The current value of these coins is around $35 million.
This isn’t the first time a Satoshi-era wallet has woken up after years of dormancy. In April last year, another wallet, which had been inactive since 2012, transferred 279 BTC when the price of Bitcoin was around $12. The wallet held 1,128 BTC.
While the identity of the wallet owner remains unknown, this recent movement of BTC comes at a time when Bitcoin is reaching new all-time highs. Last week, the benchmark cryptocurrency surpassed $73k, and currently, it is trading around $70k.
As Bitcoin continues to gain more mainstream adoption, it’s not uncommon for long-dormant wallets to suddenly move their coins. In this case, the transferred 500 BTC is worth about $35 million, a significant sum that could have a potential impact on the market.
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