Dormant whale wallet moves 174 Bitcoin

A dormant whale Bitcoin wallet that had been inactive since 2014 suddenly became active, moving over 174 bitcoins valued at more than $102 million. Blockchain data reveals that this wallet, which received 174.88 BTC on January 8, 2014, transferred funds for the first time on August 16, 2024.

• The wallet’s initial 2014 value was nearly $142,000, but due to Bitcoin’s massive appreciation, the 174.88 BTC is now worth over $10.2 million.
• Blockchain tracker Whale Alert identified this dormant wallet activity on August 16, with the transaction fee being 67,500 satoshis (approximately $39.43), which was 50 times the necessary amount.
• The wallet’s holdings were worth about $896,000 in October 2018 and surpassed $5 million in late January 2021.

According to blockchain explorer Blockchair, the wallet’s balance now stands at 0.00004226 BTC, equivalent to $2.50 at the current Bitcoin price of $59,300. In recent months, there has been an increasing trend of dormant Bitcoin wallets becoming active and moving significant amounts of BTC. While it’s rare for Satoshi-era addresses (holding coins mined during Bitcoin creator Satoshi Nakamoto’s time) to move, other dormant wallets have been active recently. In July this year, a wallet that had been inactive for 12 years moved $6.9 million in BTC. Another wallet, dormant for over 14 years, transferred $3 million in BTC to Binance in June