An ancient Bitcoin wallet suddenly became active again after being dormant for over 15 years.
This wallet has not been touched since May 2011, and the Bitcoin it held was worth approximately $1.7 million at that time.
According to Galaxy Research, 20.43 BTC associated with that address were transferred out in two transactions on September 29th.
A tiny Bitcoin position grew to $1.7 million
Galaxy Research It is estimated that among them, the historical average cost of 10.33 BTC is approximately $4.
According to calculations by this analysis firm, the profit from this portion of the holdings is approximately $872,000, representing a gain of as high as 2,192,671%.
In addition, the estimated cost of each of the 10.10 BTC is only about $3.
In total, Galaxy estimates that the earnings corresponding to these two sets of ancient outputs are approximately $1.724 million.
Galaxy Research Does not confirm the identity of the sender or recipient.
A month since the awakening of an ancient Bitcoin wallet
A series of quite notable transfers occurred this month, involving coins that had not been touched for anywhere between four and over sixteen years.
One of the most notable events of this month occurred on September 5th: 12 wallets, each holding 50 BTC, after remaining untouched for over 16 years, transferred a total of 600 BTC coins.
These bitcoins come from mining rewards generated in March 2010.
These 600 BTC coins were worth approximately $48 million at the time. The old output was transferred to a new Bitcoin address that had not been identified before. Blockchain investigators found no evidence indicating that these coins belonged to Satoshi Nakamoto, the founder of Bitcoin, despite their very early origin.
In just the first five days of this month, approximately 626.74 BTC tokens from long-dormant wallets were transferred for the first time after many years. This includes 8 wallets that can be traced back to 2013, each of which transferred 25 BTC tokens within about 25 seconds.
Galaxy Research also tracked that 4 wallets, which had been inactive for at least ten years, transferred a total of 1,971.03 BTC between September 6 and September 22.
There is also an even older wallet that has been dormant since March 2011; this wallet contains 10.25 BTC.
On September 19th, another wallet from 2011 transferred out 100 BTC, worth approximately 8.09 million US dollars.
Just three days later, on September 22nd, a wallet that had not been active since July 2012 transferred 600 BTC, worth approximately 51.9 million US dollars.
