Dormant Bitcoin Wallets Move 150 BTC; Coinbase Receives 54
On May 26, wallets from 2014–2017 moved 150.81 BTC. A 2014 address transferred 103.96 BTC; 53.96 BTC was routed to Coinbase.
On May 26, long-dormant bitcoin wallets created between 2014 and 2017 moved a combined 150.81 BTC across multiple transactions. A 2014 wallet created on Jan. 4, 2014 transferred 103.96 BTC at block height 951160. At least 53.96 BTC from that transfer was deposited to the Coinbase exchange.
The 103.96 BTC originated from a legacy P2PKH address, was swept into another legacy address, and then split into separate outputs. Using an exchange rate near $75,256 per BTC, that holding is valued at about $7.8 million. On Jan. 4, 2014 a single BTC traded near $823, making 103.96 BTC worth roughly $85,559 at that time, a nominal increase of about 9,044% at current prices.
On May 26 two additional older wallets — one created March 10, 2017 and another from Aug. 12, 2016 — transferred a combined 46.854684 BTC in two transactions of 21.854784 BTC and 24.999900 BTC. Those outputs were sent into Bech32 (P2WPKH) addresses. The March 2017-derived funds now sit in a Bech32 wallet holding 28.71 BTC, and the 24.99 BTC from the 2016-origin wallet is in a Bech32 address.
Blockchain analytics firm Blockchair assigned privacy scores of 45 to the 2014 transfer and 55 to each of the 2016 and 2017 transfers. Blockchair attributed the lower score for the 2014 transfer to sweeping behavior and repeated use of the same input addresses, and the higher scores for the later transfers to sweeps into different address types.
Bitcoin traded down roughly 2.8% over the prior seven days and touched a weekly low near $74,530. Some of the revived holdings were deposited to an exchange address, while other transfers moved coins into modern address formats or consolidated balances.
Blockchain records for these transactions show creation dates, address types, transfer sizes and exchange receipts, which are publicly visible on-chain and can be examined by analysts and market participants.
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