Asleep for ages, more sats wake from years of slumber.
Bitcoin bought in 2011 came back to life on Thursday, when 139 Bitcoin belonging to address 1H1Ab6 moved into a newly created Segwit address.
The owner—who hodled for nearly twelve years–bought the coins in June 2011 for a bit over $2,250 dollars, only to see them grow into a staggering $3.5 million at bitcoin’s current price mark.
These coins belong to what’s known as Ancient Supply, which refers to Bitcoin purchased at least 7 years ago, although some analysts use 5 years as their base date.
This year has seen a significant amount of movement from ancient Bitcoin, with 3,200 BTC reviving—1,100 of which pre-date 2013, according to a report from Glassnode.
Spurring the curiosity of many, the market saw a truly ancient wallet—created in October 2010 when the price was an obscene $0.19 USD—sell off 429 Bitcoins in March last year. A year later, in February 2023, another Satoshi-era address moved 412 Bitcoin worth $9.6 million dollars after more than a decade.
It’s hard to tell whether these owners’ convictions…