Hundreds of Millions Worth of ‘Sleeping Bitcoins’ Woke up After BTC’s Mid-November Price High
On Sunday, December 19, a dormant address that received 235 bitcoin in 2013 was activated after more than nine years of sitting idle. Bitcoin’s price has dropped lower after reaching its all-time high on November 10, and throughout December, records show a great number of so-called ‘sleeping bitcoins’ have activated during this period.
Dormant Addresses Wake up After Years of Slumber
The day that bitcoin (BTC) tapped an all-time price high at $69K per unit on November 10, a miner from 2010 spent 1,000 sleeping bitcoins and 1,000 bitcoin cash (BCH) as well. The 1,000 bitcoins stemmed from 20 block rewards mined well over a decade ago in 2010. This same entity spent another 1,000 BTC and 1,000 BCH the following day. Additionally, a single block from 2010, worth 50 BTC or $2.3 million was spent on November 3.
During the month of November, a total of 11 block rewards that were ten years old and mined in 2011, were activated and sent to new BTC addresses. That’s a total of 550 BTC worth $25.8 million using today’s bitcoin exchange rates. So far, for the month of December 2021, a total of four 2011 block rewards with 200 BTC worth $9.3 million was activated. There haven’t been any 2010 block rewards spent but seven blocks from 2012 were activated, 14 blocks from 2013, and five blocks from 2014.
Today, a dormant address from 2013 that originally had 235 bitcoin activated for the first time in 9.1 years by spending 100 BTC. *The address still has 135.80 BTC and Blockchair’s privacy-o-meter explains the transaction was sent with 0 privacy score and had “critical” privacy concerns. One transaction vulnerability seen in the transaction was “matched addresses identified.” On Thursday, December 16, a dormant address containing 225 bitcoin was activated after 8.4 years. The