Old ‘Sleeping Bitcoin’ Wallets Spring to Life, Transacting $28 Million in 2024
In 2024, previously inactive ‘sleeping bitcoin’ wallets, established between 2010 and 2017, saw a resurgence in activity, transacting about 659.14 bitcoins valued at $28.26 million during the first two weeks of the year.
Notably, a significant portion of this movement originated from wallets created in 2017, accounting for 167.3812 bitcoins. Unlike the surge in transactions from 2011 and 2012 witnessed in the previous year, 2024 saw fewer movements from long-standing vintage addresses. Btcparser.com, a blockchain analysis website monitoring over 64,000 sleeping bitcoin addresses, reported the first-time transaction of approximately 659.1406 bitcoins from accounts created between 2010 and 2017. Wallets established in the years 2013 to 2017, particularly those from 2017, led the way with 167.3812 BTC transactions, tracing the majority of these vintage bitcoin transactions.
Additionally, wallets from 2016, 2015, and 2014 were also active, indicating renewed interest in these older addresses. Interestingly, even a wallet created in 2011, initially holding 50 BTC valued at $2.50, saw its value soar to $2.1 million, reflecting the significant appreciation of Bitcoin since its early days. Last year, in contrast, saw more transactions from dormant BTC addresses dating back to 2011 and 2012, with a notable movement of 1,000 BTC in December 2023 from an old-school bitcoin whale who has been active since 2020.
Clever Robot News Desk 15th January 2024
