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Second 2011 Bitcoin wallet transfers $10M

Second 2011 Bitcoin wallet transfers $10M

GrafaGrafa2024/10/17 06:30
By:Liezl Gambe

On Wednesday, a Bitcoin (CRYPTO:BTC) wallet created in 2011 became active after more than 13 years, moving 150 BTC valued at $10.17 million. 

This transfer follows the movement of 100 BTC from another 2011 wallet just two days prior, prompting speculation that the two events might be connected. 

According to blockchain data, the recent transaction occurred at block height 865,917. 

Initially created on June 27, 2011, the wallet transferred 150 BTC, which was worth just $2,467.50 at the time of creation. 

The funds were moved to two different addresses: 99.99 BTC to a Pay to Public Key Hash (P2PKH) address and 50 BTC to a Pay to Script Hash (P2SH) address. 

Blockchair’s privacy tool gave the transaction a low privacy rating of zero out of 100, citing identifiable patterns. 

Notably, the structure of this transfer mirrored a similar transaction from two days earlier when another dormant 2011 wallet moved 100 BTC. 

Both transfers had comparable privacy issues, leading to speculation that the same individual might have executed both transactions. 

Based on data from Arkham Intelligence, the round-value transfers from these two events were directed to Bitstamp, a centralized exchange. 

The information suggests that 80 BTC, equivalent to $5.42 million, were sent to Bitstamp between the two transactions, raising further questions about their possible connection. 

The transfer of 150 BTC from a long-dormant wallet is now one of the largest movements from a pre-2017 address, a rare occurrence that has drawn attention within the crypto community. 

While it remains unclear why the funds were moved, the similarities in structure and timing have led to speculation that both transactions may involve the same person or group.

At the time of writing, the Bitcoin (BTC) price was $67,272.02.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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