Sleepy Bitcoin Whale From 2011 Finally Yawns, Sends $3.2M to a Familiar Spot 🐳

A bitcoin wallet inactive since 2011 moved nearly 50 BTC valued at about $3.2 million on Thursday, according to Galaxy Research. The 49.97 BTC was originally received on July 16, 2011, when bitcoin traded near $10, and had remained untouched for more than a decade.

The transfer was recorded in block 961331 at 20:14 UTC on Aug. 6. It combined four inputs from the dormant address totaling 49.97 BTC with two smaller inputs from other addresses, sending exactly 50 BTC to a SegWit address while a second output received roughly 0.00116 BTC after fees. SegWit, a newer address format that lowers transaction costs, is used by addresses beginning with bc1.

According to Arkham data, the receiving address has been active for several years and previously sent 6.336 BTC and 16.131 BTC to addresses labeled as FalconX deposits. It has also received funds from wallets Arkham identifies as a Nexo hot wallet and Prime Trust custody. The 50 BTC remained in the receiving address as of Friday morning, leaving no on-chain evidence that the dormant coins themselves have been sent to FalconX, another exchange, or sold.

The movement comes amid heightened security concerns following a major exploit of Coldcard hardware wallets, which has prompted long-term holders to reassess older storage setups, though there is no evidence linking the 2011 wallet to that flaw.

Dormant wallets from bitcoin's earliest years regularly attract attention whenever they move, given the rarity of coins last spent when $BTC was valued in the single digits and the size of their implied paper gains today.