Investing.com | Editor Rachael Rajan
Published Oct 10, 2023 01:38PM ET
Peckshield, a blockchain security firm, reported on Tuesday that two dormant Bitcoin wallets have recently become active. One wallet, known as “17TZNT,” which had been inactive for six years, transferred 2995 BTC ($82.3 million) to new addresses. The wallet first received 3,200 BTC in May 2016 when Bitcoin was valued at $459. The value of Bitcoin has since surged by nearly 6000% to $27,703.
Another wallet reactivated after three years of dormancy and moved around 5,000 BTC ($140 million). These movements highlight an awakening trend among dormant Bitcoin addresses from the early days of Bitcoin, especially those dating back to 2012. BTCparser data confirmed that four such addresses transferred a total of 653 BTC ($18.25 million) in October transactions.
BitInfoCharts reported yet another transaction involving an inactive Bitcoin wallet that transferred 1,037 BTC ($31 million) at block height 799701 on April 11, 2012, when Bitcoin was worth $4.92 as confirmed by Lookonchain. This transaction occurred at 10:51 am UTC on July 22, 2023, when Bitcoin was valued at $29,956.
The resurgence of these “vintage coins,” including rare sightings from 2010 addresses, has contributed to substantial value gains and adds an intriguing chapter to cryptocurrency history. The reasons for this activity and its potential impact on Bitcoin’s price are unclear, with rumors suggesting that original holders, referred to as OG’s, may be targeted by malicious players.
According to Glassnode’s data, $390 billion worth of Bitcoin, approximately 68.54% of the total circulating supply, has remained untouched for at least one year.
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Written By: Investing.com
