Dormant Bitcoin Wallets Move Over $300M Worth BTC

Two dormant Bitcoin wallets have reawakened after more than a decade of silence. These wallets moved a combined 3,422 BTC, worth over $324 million, within hours of each other. The first wallet, inactive since 2012, moved 2,343 BTC (around $221 million) while another that had been dormant for 12 years transferred 1,079 BTC ($102 million).

The first transaction was flagged by Whale Alert on May 5, setting off a wave of theories across Crypto Twitter. The wallet had received its holdings over a decade ago and stayed silent ever since.

This week, it transferred the entire balance in a series of outputs, including one large 2,186 BTC chunk. All of it landed in a new bech32 wallet, suggesting a reshuffle but not necessarily a sell-off.

Adding to the intrigue, another dormant bitcoin wallet containing 1,079 BTC worth $102 million also moved after 12 years, according to on-chain data.

Both whale addresses had remained inactive since the early 2010s. Together, these transfers total over $324 million in Bitcoin, waking up within hours.

Both the dormant bitcoin wallets had received their holdings over a decade ago and stayed silent ever since. This week, it transferred the entire balance in a series of outputs, including one large 2,186 BTC chunk. All of it landed in a new bech32 wallet, suggesting a reshuffle but not necessarily a sell-off.

Traders watching for Inflows

While social chatter often links such movements to fears of whale dumps or Satoshi-era coins resurfacing, one market analyst explained that it’s rarely that simple. The coins haven’t been sent to an exchange, and this could just be an internal shuffle or access recovery.

Historically, these movements don’t shake the market unless they’re followed by inflows into exchange wallets. So far, that hasn’t happened. But traders are watching addresses, books, and mempools closely, especially with Bitcoin’s price near key resistance.

The transaction fee was just 0.000105 BTC, which is another sign it wasn’t rushed. The original wallet is now empty, and the recipient has not made any further moves.

Long-term holders are moving, not panicking

Movements like these suggest longtime holders may be repositioning their assets as Bitcoin hovers near local highs. Until these coins hit exchanges, it’s just noise in the system—but the market is listening closely.

At the time of writing, there’s still no sign of exchange inflow. Such synchronized movements from dormant Bitcoin wallets often hint at strategic repositioning by long-term holders rather than market exits.

In parallel, MicroStrategy acquired another 1,895 BTC worth $180 million, according to public filings. Michael Saylor’s consistent accumulation continues to offer bullishness to the holders, especially as older wallets have now joined the race.

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Coingape Staff

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