A previously inactive bitcoin wallet, dormant since 2011, initiated a transaction involving approximately 50 BTC on August 6th. The movement represented a financial value of roughly $3.2 million at the time of the exchange. Analysis indicates the coins were transferred to an address previously linked with institutional cryptocurrency brokerage, FalconX.
The wallet had received the 49.97 BTC on July 16th, 2011, when Bitcoin’s price was approximately $10 per coin. The transaction utilized four primary inputs totalling 49.97 BTC, alongside two smaller input amounts. A SegWit address was utilised for the transfer of the entire 50 BTC allocation.
Following the transmission, a secondary output received around 0.00116 BTC representing transaction fees. Transaction data revealed the movement occurred within block number 961331 at 20:14 UTC. Arkham data has been tracking the Bitcoin addresses involved in this activity.
Galaxy Research provided information regarding the dormant wallet’s activity, noting its prolonged period of inactivity prior to the August 6th transaction. Prior records show a substantial sum, totalling approximately $6.336 BTC previously sent to FalconX by this address, and another roughly $16.131 BTC had also been transferred by the same source. The nature of these previous transactions remains under scrutiny as part of ongoing cryptocurrency monitoring efforts.
This movement highlights continued activity within long-held Bitcoin holdings and raises questions regarding potential institutional interest in older coins. Tracking such dormant wallets provides valuable insight into broader market trends and liquidity dynamics within the digital asset space.
Written by James Tobias
Bitcoin Desk
