Dormant Bitcoin Wallets Wake Up After 16 Years, Moving $6.9 Million

Blockchain tracking service Whale Alert flagged the first transfer at 4:08 a.m. UTC on November 13, when 50 BTC worth approximately $3.44 million moved from an address that had not spent its original mining reward since September 2010. Just over two minutes later, another 50 BTC moved from a separate wallet with an equally long history.

Massive Appreciation

The coins came from two blocks mined on September 8 and September 19, 2010, respectively. Back then, Bitcoin traded for roughly six cents, meaning each 50 BTC reward was worth about three bucks. At Friday's transaction prices of around $68,800 per Bitcoin, their combined value had increased approximately 1,147,511 times, equivalent to a 114,751,033% increase.

Transaction Details

The first transaction split the 50 BTC into two new addresses, sending nearly 49.99 BTC to one and approximately 0.01 BTC to another, minus a tiny network fee. The second transaction followed a similar pattern, transferring nearly 49 BTC to one address and approximately 1 BTC to another.

Both transactions cost just 1,110 satoshis each in network fees, equivalent to approximately $0.75. A satoshi is Bitcoin's smallest unit, worth one hundred-millionth of a BTC.

Broader Trend

The transfers are part of a broader trend of ancient Bitcoin wallets waking up in 2026. According to Galaxy Research data highlighted in August, Bitcoin that had remained untouched for at least a decade was moving at a pace rarely seen in previous years. In one 10-day stretch alone, six wallets dating back to 2011, 2012, and 2014 transferred a combined 553.59 BTC, worth more than $40 million at the time.

Some of those movements have been linked to security concerns, wallet upgrades, or transfers to professional custodians rather than outright selling. Friday's activity adds another 100 BTC to the growing list of early Bitcoin holdings changing hands—or at least changing addresses—after more than a decade of silence.