A Second 2011 Bitcoin Wallet Moves $10M This Week—Could the Transfers Be Linked?

On Wednesday, as bitcoin soared to an intraday peak of $68,388 per coin, a wallet from 2011 suddenly sprang to life after lying dormant for over 13 years, spending 150 BTC, valued at $10.17 million. This latest awakening follows the movement of 100 BTC from a similar 2011 address just two days earlier.

Bitcoin Wallet From 2011 Sends $10M in BTC After 13-Year Slumber

Seeing wallets from 2011 reawaken is a rare spectacle, but October has already brought two such events. While old bitcoin rarely moves, rising prices seem to coax these long-hidden coins back into circulation. On Oct. 16, at block height 865,917, a wallet created on June 27, 2011, transferred 150 BTC—worth $10.17 million based on current exchange rates. At the time of the wallet’s creation, each BTC was valued at $16.45, making the original worth of those 150 BTC just $2,467.50.

Fast forward to today, and if the coins were sold, the owner would enjoy a staggering gain of 412,462.97%. When the funds were transferred, they came from a legacy P2PKH (Pay to Public Key Hash) wallet. Of the 150 BTC, 99.99 was sent to another P2PKH wallet, while 50 BTC were transferred to a P2SH (Pay to Script Hash) address. Using Blockchair’s privacy tool, the matched addresses revealed that one of the outputs had a round value.

However, the privacy rating for the transfer was a dismal zero out of 100, according to Blockchair’s tool. As of 5 p.m. EDT on Wednesday, the bitcoin remains in the P2PKH and P2SH output wallets. Interestingly, the structure of this 150 BTC transfer mirrors a similar one from two days prior, where 100 BTC was moved from another 2011 wallet. That transaction also scored zero for privacy due to similar errors.

While the previous 2011 transaction tied for the largest dormant bitcoin move with another transfer of 100 BTC from a 2014 wallet, this new 150 BTC transfer now holds the title for the largest from a pre-2017 wallet.