05.07.2025 13:57

Dormant Bitcoin, amounting to a staggering $1 billion, has unexpectedly resurfaced after over a decade of inactivity, igniting widespread speculation within the cryptocurrency market. Blockchain data analysts, such as Whale Alert, recorded six separate transactions within a 24-hour period, each involving the movement of 10,000 Bitcoin from addresses dormant for more than 14 years. Further transactions, also totaling 10,000 BTC each, continued the trend in subsequent hours.

Adding to the intrigue, Coinbase director Connor Grogan offered a compelling theory. He hypothesized that the reactivated Bitcoin originated from a single miner active in 2011, consolidating rewards from 180 mined blocks. Grogan highlighted a past instance where this miner possessed a wallet containing a monumental 200,000 BTC—currently valued at an astounding $22 billion, placing it among the top five largest Bitcoin wallets ever. Grogan cautiously suggested that the recent activity might be attributable to an "unmarked exchange cold wallet," acknowledging the unusual nature of these events.

Independent on-chain data analysis, sourced from platforms like Lookonchain, provides an alternative perspective on this significant Bitcoin movement, though specific details are omitted from this report. The sheer scale of the transactions, coupled with the extended dormancy period and the expert commentary, has generated significant interest and debate surrounding the possible reasons behind this revival of long-dormant cryptocurrency. The event underscores the enigmatic and ever-evolving nature of the Bitcoin ecosystem.