Long-dormant Bitcoin wallet moves $45M in BTC

A long-inactive Bitcoin (CRYPTO:BTC) wallet, created on March 18, 2016, has moved 534.94 BTC, valued at approximately $45 million, marking its first transaction in nearly a decade.

This significant transfer was detected by blockchain parsing tools and involved two outputs to a new wallet, with the transaction executed at a minimal cost of $1.12.

The originating wallet, identified as a legacy Pay-to-Pubkey-Hash (P2PKH) address, held Bitcoin that was initially worth about $222,000 when acquired.

Over time, this investment has appreciated by an astonishing 20,272.97%, highlighting the substantial returns early Bitcoin adopters have seen.

The funds were redirected to another P2PKH wallet, where they remain untouched as of the latest reports.

The transaction achieved a high privacy rating of 90 out of 100 due to output address duplication, according to Blockchair's privacy assessment tool.

This sudden movement of long-dormant funds raises questions about the motivations behind the transfer.

It could signal a strategic shift, renewed interest in Bitcoin, or simply a consolidation of assets.

The transaction stands as the largest single movement this month from a dormant wallet dating between 2009 and 2017.

The transfer reflects broader trends in Bitcoin, where dormant wallets have been active in recent months.

For instance, in February 2025, blockchain trackers observed that legacy wallets from various epochs moved approximately $130 million in Bitcoin, indicating deliberate maneuvers by veteran stakeholders.

At the time of reporting, the Bitcoin (BTC) price was $84,634.31.