Dormant Bitcoin wallet with $31 million BTC activates after 10 years

• A dormant wallet from 2012 has woken up and moved 279 BTC.
• According to on-chain data, the Satoshi era wallet holds 1,128 Bitcoin worth $31.6 million.
• The wallet last transacted when Bitcoin prices ranged in the $12 to $95 zone. 

While Bitcoin price continues to flirt with $28,000 after this week’s slump from $30,000, a new development related to the leading cryptocurrency has been observed.

Dormant wallet wakes up and moves 279 BTC

According to on-chain details shared by crypto account Whale Alert, a BTC wallet that has been dormant for over 10 years just reawakened.  The Satoshi era wallet reportedly holds 1,128 bitcoin worth approximately $31.6 million.

💤 💤 💤 💤 A dormant address containing 1,128 #BTC (31,587,849 USD) has just been activated after 10.5 years!https://t.co/W87gdQJ0lo

— Whale Alert (@whale_alert) April 21, 2023

And the dormant wallet has made some quick moves, with 279 BTC of the assets being moved to three new addresses in the past 24 hours. On-chain smart money platform Lookonchain tweeted:

“A whale with 1,128 $BTC ($31.6M) that has been dormant for 10 years transferred 279 $BTC ($7.8M) to 3 new addresses just now. The whale received 1,128 $BTC in October 2012 and May 2013, when prices were $12 and $195.”

A whale with 1,128 $BTC($31.6M) that has been dormant for 10 years transferred 279 $BTC($7.8M) to 3 new addresses just now.

The whale received 1,128 $BTC in October 2012 and May 2013, when prices were $12 and $195.https://t.co/2MxnVzcEMl pic.twitter.com/2GM7Oq4e2P

— Lookonchain (@lookonchain) April 21, 2023

Bitcoin price reached highs of $69,000 in November 2021, meaning the wallet would have been even richer had it activated then. While the sudden activity and why it happened remains to be unearthed, crypto twitter is reacting to the news with speculation that it is possible someone just found their seed phrase.