Decade-Old Bitcoin Wallets Suddenly Moves, Cashing In Massive Gains

Several dormant Bitcoin wallets, untouched for over a decade, have recently shown unexpected activity, resulting in massive profits for their owners.

On Thursday, one of these long-inactive accounts moved 100 BTC, originally acquired for just $605 in 2012, now valued at over $6 million—a staggering 994,495% profit.

The day before, another ancient wallet transferred 121 BTC, purchased for a mere $126 back in 2011, now worth around $7.5 million, representing a gain of over 5.9 million percent.

Earlier this month, a similar occurrence was noted when a wallet holding 100 BTC, bought for $83,492 in 2014, was suddenly activated.

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Despite these movements, CryptoQuant’s CEO, Ki Young Ju, suggests that data from the Spent Output Age Bands (SOAB) metric shows that most long-term Bitcoin holders are still not shifting their assets.

The SOAB, which categorizes spent coins by age, indicates that while such movements can trigger market volatility, the majority of these “ancient whales” remain inactive.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.