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Despite a Cooler Bitcoin Market, Vintage Wallets Moving Hundreds of BTC Reappear

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bitcoin.com
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2 months ago
AI summarizes in 5 seconds.

Just two days ago, Bitcoin.com News reported that two bitcoin wallets from 2016 shifted 1,087.29 BTC worth more than $100 million. In the interim, even older stashes have been quietly on the move.

For example, on Sunday, btcparser.com flagged a 200 BTC transfer from a P2PKH (Pay-to-Public-Key-Hash) address created on July 9, 2013, to a newer Segwit wallet P2WPKH (Pay-to-Witness-Public-Key-Hash) address at block height 932778. Monday brought a far larger move, and it came from an even older wallet.

Despite a Cooler Bitcoin Market, Vintage Wallets Moving Hundreds of BTC Reappear

Image source: Whale Alert

Whale Alert discovered a 909.3799125 BTC move from a wallet that was first created on June 30, 2012, at block 186935. Since it was created, the P2PKH wallet held ‎1,075.96764351 BTC in total, and the 909.37 BTC moved on Monday was also shuffled to a new and unknown P2WPKH address. This particular stash and the 200 BTC moved on Sunday, still remain in the new Segwit wallets (1, 2).

Also read: Japanese Bonds Crashing — Bitwise Says the US Fiscal Path Is No Safer

The 909.37 BTC was locked in at block 932989, and in a neat bit of timing, a 10 BTC move from a long-silent wallet created on Jun. 21, 2012, popped up shortly beforehand at block height 932785. The string of awakenings paints a clear picture: older bitcoin wallets are stirring as prices drop lower, quietly reshuffling coins that have sat untouched for more than a decade.

  • Why are old bitcoin wallets moving now?
    Several long-dormant wallets appear to be reorganizing holdings as bitcoin prices ease, but it’s possible they could be preparing sales.
  • How old were the wallets involved in these transfers?
    Some of the wallets were created in 2012 and 2013, making them more than a decade old.
  • How much bitcoin was moved in the latest transfers?
    Recent large movements include 909.37 BTC, and 200 BTC.
  • Did these bitcoin transfers move coins to exchanges?
    The funds were sent to new Segwit addresses, not directly to known exchange wallets.

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