$74M in Dormant Bitcoin Reawakens Amid Price Surge
In the wake of Bitcoin’s recent rally past the $93,000 mark, a significant volume of long-dormant coins has been reactivated, marking a notable trend among early adopters. Over the past few days, approximately 790.97 BTC—currently valued at around $74.1 million—has been moved from wallets that had remained inactive for years.
A particularly striking transaction involved a wallet created on September 14, 2012, which transferred its entire balance of 242 BTC—now worth approximately $22.6 million—at block height 893,589. Originally stored in a legacy Pay-to-Public-Key-Hash (P2PKH) address, the coins were transferred to a modern Bech32 Pay-to-Witness-Public-Key-Hash (P2WPKH) address, highlighting a trend toward updated address formats. The initial value of this holding was merely $253.40, representing an astonishing 8,923,480% increase.
On April 22, a cohort of eight wallets created in February and March of 2013 became active for the first time in over a decade. Each transferred 25 BTC, amounting to a collective 200 BTC—valued at $18.7 million—into a newly generated Bech32 P2WPKH address. According to data from btcparser.com, these funds originated from individual legacy P