Dormant Bitcoin Wallet Awakens, Moves $1.7 Million
- A Bitcoin wallet inactive since May 2011 moved a total of 20.43 BTC on September 29, valued at approximately $1.7 million.
- The wallet originally received its BTC from Braiins Mining, formerly known as Slush Pool, between February and May of that year.
- In the past, this wallet sent Bitcoin to addresses linked to Mt. Gox and Silk Road, platforms prominent in early Bitcoin history.
- The recent transactions split the BTC into smaller amounts sent to modern Segwit (bc1) addresses with minimal transaction fees.
- This activity occurs just before the October deadline for Mt. Gox creditor repayments.
The reactivation of this long-dormant wallet highlights significant gains as early Bitcoin investments have surged in value over time, with the original purchase price estimated at $3 to $4 per BTC now translating into a gain exceeding two million percent.
