Dormant 2012 ‘Sleeping Bitcoin’ Addresses Spring to Life, Moving $8.6M in Vintage Coins

Onchain evidence reveals that three dormant ‘sleeping bitcoin’ addresses, established in January 2012, have awakened, moving a total of 325.19 bitcoin valued at over $8.6 million after an 11-year hiatus.

Vintage Bitcoin Vaults Open: $8.6M Moved From 2012 Dormant Addresses

Bitcoin News recently highlighted the staggering $958 million in dormant bitcoin transactions in 2023. Shortly after, around 325.19 bitcoins from January 2012 addresses were mobilized.

The initial two transfers (1 & 2) originated from wallets set up over 11 years ago on January 11, 2012. The first address shifted 145.53 BTC, while the subsequent one dispatched 21.97 BTC. Both of these transactions secured confirmation at block height 807,852 and were discovered by btcparser.com.

Vintage coin spends from 2010, 2011, and 2012 are rare. So far in September, there’s been a total of four spends from 2012 addresses.

In quick succession, the address labeled “1HNnG” executed a transfer of 157.69 BTC, receiving confirmation at block height 807,853. Intriguingly, all three transactions, as per Blockchair’s privacy gauge, lacked advanced privacy measures, rendering them susceptible to transaction scrutiny.

Overlapping addresses were pinpointed in these three shifts, indicating repeated address usage. Diving deeper into clustering heuristics and onchain insights, it’s evident that these three transactions likely stemmed from a singular owner. This revelation implies that in 2023 alone, 43 dormant bitcoin addresses from 2012 have been reactivated, moving their vintage coins.

Moreover, factoring in the recent 325.19 bitcoin transaction from 2012, the year 2023 has witnessed a cumulative transfer of 3,700.97 BTC from this year, translating to a whopping $98.25 million at current BTC exchange rates.

When the owner initially secured the coins, each bitcoin had a price tag of $6.36. Back then, the trove’s value was a modest $2,068, a stark contrast to its present worth of $8.6 million.

What do you think about the recent sleeping bitcoin spends in 2023? Share your thoughts and opinions about this subject in the comments section below.

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