Dormant bitcoin wallets moved 626.74 BTC, worth over $50 million, during the first five days of September. Eight wallets from 2013 shifted 200 BTC to custodian Bitgo within 25 seconds of each other, while three 2011-era wallets turned an original $285 stake into $7.22 million. September's pace of vintage coin movement has slowed from August.
Eight 2013 Wallets Wake in a 25-Second Burst
Bitcoin traded between $76,000 and $82,000 this past week as 626.74 BTC worth over $50 million moved from dormant wallets during the first five days of September. On Sept. 5, eight wallets first created in 2013 each shifted 25 BTC at block height 965625, all within 25 seconds of each other.
The transfers, discovered by btcparser.com, looked to be the same entity and almost certainly one owner consolidating. Alongside those eight transfers, the 13-year-old bitcoin was sent to the custodian Bitgo, according to Arkham Intelligence.
2011 Coins Turn $285 Into $7.22 Million
2013 wallets were September's biggest spenders, moving 346.07 BTC across nine separate transfers. Excluding the eight transfers sent to Bitgo, another sole transaction moved 146.05 BTC on Sept. 2.
September's second-largest dormant spender emerged on Sept. 3, when three wallets dating back to 2011 moved a combined 90.50 BTC worth $7.22 million. Eighty of those bitcoin sat in wallets created on Nov. 5, 2011, when bitcoin traded at a mere $3.15, and a third wallet, born Oct. 29, 2011, shifted 10.5 BTC at roughly the same price.
As a result, the 90.5 BTC cache grew in value from $285 at the time of deposit to the $7.22 million it trades for today.
September's Pace Cools From August
Other movements this month included 40.91 BTC from a single 2012 wallet, 40.27 BTC from two 2014 addresses, 50 BTC from a 2015 wallet, and 58.97 BTC across two 2017 transfers. Yet the total vintage bitcoin moved in September represents just 9.75% of August's total.
The average daily spend from old-school wallets reached around 214.25 BTC in August. So far in September, that daily average has fallen to roughly 125.34 BTC, even as the steady stream of transfers continues.
Source: Bitcoin News
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