A dormant whale address that had remained untouched since November 2017 recently became active, moving a significant amount of Bitcoin (BTC). This address contains Bitcoin from the early days of the network, which is often referred to as the Satoshi era, when Bitcoin was still relatively unknown. The total amount of BTC moved from the address on November 2 was 6,500 BTC, valued at approximately $230 million.
This wallet's activity consisted of three separate transactions. The first transaction involved the movement of 2,550 BTC, which is estimated to be worth around $90 million. The second address moved about 2,000 BTC, valued at approximately $71 million, while the third address transferred roughly 1,950 BTC, equivalent to $69 million.
One notable aspect is that all three of these wallets had not seen any activity for almost six years, with their last transactions dating back to November 5, 2017. This means they remained dormant even during Bitcoin's meteoric rise and the achievement of all-time highs exceeding $69,000. The majority of Bitcoin held in these wallets can be traced back to July 2011 and is associated with F2Pool, a Bitcoin mining pool. This suggests that the BTC may have been accumulated through early Bitcoin mining activities. While there is no official confirmation of whether all three wallets belong to the same entity, the history and transaction patterns of these wallets indicate a possible connection.
The movement of Bitcoin from these Satoshi-era wallets is not an isolated incident. Throughout 2023, several Bitcoin whales with addresses over a decade old have become active, relocating BTC to new addresses. For instance, in July, a wallet that had remained dormant for 11 years saw $30 million in BTC being transferred. In August, another wallet from the Satoshi era moved 1,005 BTC to a new address. These events have drawn attention to the activities of long-dormant BTC addresses and the potential reasons behind their reactivation.
