TL;DR Breakdown
- Two long-dormant Bitcoin wallets moved a combined 3,422 BTC worth over $324 million after more than a decade.
- The transactions occurred within hours of each other and were flagged by Whale Alert on May 5.
- One wallet from 2012 transferred 2,343 BTC valued at approximately $221 million to a modern bech32 address.
After over a decade, two long-inactive Bitcoin (BTC) wallets moved a total of 3,422 BTC, worth over $324 million. The wallets transferred their full balances within hours of each other, creating activity in an otherwise silent group of early holders. Whale Alert flagged the transactions, which caught attention across blockchain tracking platforms and online crypto communities.
Dormant Bitcoin Wallet Moves $221 Million
A wallet inactive since 2012 moved 2,343 BTC, with the total value exceeding $221 million at the time of the transfer. The wallet had remained untouched for over 11 years and suddenly became active on May 5. Whale Alert identified and reported the transaction as part of a large on-chain movement.
💤 💤 💤 💤 💤 💤 💤 💤 💤 💤 A dormant address containing 2,343 #BTC (221,429,323 USD) has just been activated after 11.8 years!https://t.co/0FUfLQ8auo
— Whale Alert (@whale_alert) May 5, 2025
The transfer occurred in a series of outputs, with the largest being 2,186 BTC sent in one chunk. This BTC landed in a new bech32 address, indicating a modern format and possible upgrade or reshuffle. According to on-chain tracking data, no portion of the funds has moved to any exchange wallet.
The original wallet now shows a zero balance, while the new receiving address remains idle. Analysts confirmed that the transaction included a minimal fee of 0.000105 BTC, which suggests a non-urgent transfer. This pattern typically reflects internal restructuring rather than immediate plans to liquidate assets.
Large BTC Move Mirrors Earlier Transfer
Another dormant address, inactive for 12 years, moved 1,079 BTC worth around $102 million during the same timeframe. This transaction also involved sending the full balance to a modern Bech32 wallet without splits or partial withdrawals. Whale Alert recorded the event shortly after the first wallet became active.
No movement has occurred from the receiving wallet since the transfer was completed on May 5. The wallet used a similarly small transaction fee, reinforcing access recovery or consolidation speculation. The timing and scale of this transfer mirrored the actions of the first wallet.
Blockchain data confirmed that both wallets had acquired their coins between 2011 and 2013. The synchronized nature of the movements suggests coordination or similar motivations by separate holders. However, no connection has been publicly confirmed between the two addresses.
Bitcoin Supply Mostly in Profit
On-chain analysts noted these transfers as signs of long-term holders repositioning assets, not preparing for immediate market exits. Current data shows no BTC from either wallet has entered exchange deposit addresses. Historically, such movements only impact markets when followed by sell-offs.
At the same time, Strategy acquired another 1,895 BTC valued at $180 million, per official filings. The firm continues its buying pattern, aligning with rising activity from older wallets. These trends highlight increased long-term management amid Bitcoin hovering near local resistance.
Glassnode data shows 88% of Bitcoin’s supply remains in profit, while losses cluster among recent high-entry buyers. Bitcoin’s stability around resistance levels encourages strategic activity from early adopters. Despite no exchange inflow, monitoring tools continue tracking these wallets for further movement.
