Early Bitcoin adopter moves 306 BTC worth $35 million after 12 years of dormancy
Quick Take
- A Bitcoin wallet that has been dormant since 2013 split its 306 BTC, worth over $35 million, into two new wallets on Friday.
- The stash was worth under $24,000 when purchased in 2013; if the BTC are sold, the seller will make a return of nearly 1,500x.
A Bitcoin wallet that has been dormant since purchasing 306 BTC in late March 2013 has reactivated, splitting its stash between two new wallets, blockchain data show.
The wallet, first flagged by Whale Alert, spent around $23,700 on the 306 BTC across two transactions at the time, according to blockchain data from bitinfocharts. Now, with Bitcoin currently trading at over $115,200, the early adopter's stash is worth about $35.3 million — a return of nearly 1,500x.
The wallet, which until today saw no significant activity since the purchase, split its stash, sending 200 BTC to one wallet and 106 BTC to another, with neither receiving wallet showing any previous transaction history. The owners of the wallets are currently unknown.
The transfer follows a spate of recent reactivations of early bitcoin adopters' wallets. On July 23, $1.26 billion worth of BTC were moved through wallets tied to a whale after a few years of dormancy, and on July 24, a wallet that hadn't been active since 2011 moved $460 million worth of BTC.
Analysts have speculated that early adopters may be moving to cash out as bitcoin hovers around its all-time high price around $123,000. Bitcoin currently trades at $115,300, according to The Block's Bitcoin Price page.
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