Bitcoin worth over $60 million moved for the first time in 10 years

Bitcoin wallet addresses that had been dormant for more than 10 years transferred 1,000 BTC +3.22% yesterday — worth more than $62.8 million at current prices.

A wallet address ( 16v...zEa) transferred 500 BTC ($31.4 million) at 9:46 a.m. UTC (4:46 a.m. ET) on Sunday. A second address, (1DU...fC5 , also transferred 500 BTC 20 minutes later, according to on-chain data.

Each address had received 500 BTC on Sept. 12, 2013  — worth just $62,000 at the time — when bitcoin was trading for around $124, as noted by on-chain analysts Lookonchain.

Funds sent from the first address were subsequently split and sent on to additional addresses, while the funds sent from the second address are yet to be transferred further.

Bitcoin is currently trading for around $62,800, according to The Block’s price page , meaning that the value of the bitcoin transferred has risen more than 500 times since being received over a decade ago.

The reason for the transfers remains unknown, as does the identity of the wallets' ownership. However, given the same transfer amounts and close proximity of the transactions, there is a reasonable likelihood that the 1,000 BTC belongs to the same entity.

Recent bitcoin whale movements

Last week, a stack of 687.33 BTC — worth over $44 million — was also moved for the first time in a decade.

In March, the fifth richest address on the Bitcoin blockchain, which had been dormant since 2019, moved $6 billion. Another entity also combined $140 million in bitcoin mined in 2010 into a single wallet during the same month.

In January, nearly 50,000 dormant bitcoin woke up less than a week after spot bitcoin exchange-traded funds were approved in the United States.