Crypto Avenue

September was a month of dormant BTC accounts awaking

Bitcoin chart

Throughout the month, we saw a surprising number of Bitcoin wallets moving coins that had been untouched for more than 10, 15 and even 16 years.

On September 29, one wallet that had been inactive since May 2011 moved 20.43 BTC, worth around $1.7 million today. These coins were originally worth only a few dollars.

And this was not the only one.

Earlier this month, 12 wallets moved a combined 600 BTC after more than 16 years of inactivity. Other wallets from 2011 and 2012 also started moving, including one that transferred 100 BTC and another that moved 600 BTC.

According to Galaxy Research, almost 2,000 BTC from wallets that had been inactive for at least 10 years moved during September.

We don't know why these wallets suddenly became active. It could be the owners moving their old coins to new wallets, selling them, or simply getting access to wallets they had forgotten about.

There is also no evidence that these coins belonged to Satoshi Nakamoto, despite some of them coming from the very early days of Bitcoin.

Whatever the reason, it was certainly an interesting month to watch these pieces of Bitcoin's early history suddenly come back to life.

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kasra_mp
kasra_mp

Crypto and tech enthusiast. Into free/open software, privacy and decentralized, self-governed platforms.


Crypto Avenue
Crypto Avenue

My blog focuses on providing up-to-date news and insights on the world of cryptocurrencies. I cover a range of topics including the latest developments in the industry, the differences between various cryptocurrencies, and which currencies are worth investing in. I strive to provide accurate and detailed information that is accessible to both beginners and experienced investors.

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