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Great Awakenings — Dormant 2012 Wallet's $5.7M Spend Linked to October's Initial 2012 Transfer

On October 19, 2023, a dormant bitcoin address from 2012 sprang to life at block height 812,946, moving 200 BTC worth $5.74 million for the first time in nearly 11 years. This activity coincides with a recent surge of transfers from 2012 addresses, which began in early September.

October Witnesses Several Connected 2012 ‘Sleeping Bitcoin’ Spends

On Thursday, another 2012 dormant bitcoin address was activated, transferring 200 BTC valued at $5.74 million. The address “1DabG” originated on November 1, 2012, when BTC was priced at $11.20 per unit, meaning the wallet’s initial value was $2,240.

Btcparser.com first noticed the transaction, which garnered a low privacy rating from Blockchair’s privacy tool. The 2012 transaction received an 11 out of 100, flagging three vulnerabilities: matched addresses, co-spending, and round values. To date, seven 2012 transactions have been recorded in October.

Last month saw a total of 19 transfers from 2012. The most recent 2012 transaction this month occurred on October 12, 2023, relocating 110 BTC. The address “1AVeQ,” originating on January 31, 2012, moved 100 BTC at block height 811,900. Soon after, the “1Agnu” address, established on September 30, 2012, executed a 10 BTC transfer at block height 812,168.

Before these transactions, notable 2012 transfers happened on October 9, and an unusual batch of 2014 transfers took place three days earlier. On October 6, 86 wallets from 2014 relocated 860 BTC, totaling $24 million, across various block heights. The 200 BTC shifted on Thursday was dispatched to the address “1NaoX“, which now possesses 404 BTC, equivalent to $11.62 million.

The mysterious address, 1NaoX, is distinct, having held 1,116 BTC over its existence and transferring 712 bitcoin. This address also received the first 2012 transfer of the month on October 6, 2023. That specific transaction moved 200 BTC from a 2012 address created on October 26, 2012, with that specific BTC now also located in 1NaoX. This means that several of October’s enigmatic 2012 transactions stemmed from the same owner.

What do you think about the 2012 bitcoin address waking up after all these years? Why do you think old holders are moving coins right now? Share your thoughts and opinions about this subject in the comments section below.

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