Bitcoin wallet dormant since 2011 is active again, 100 BTC transfer is equivalent to Rp138.5 billion!

Jakarta, Pintu News – In the cryptocurrency world, old wallets that suddenly become active again always attract attention, especially if they hold large amounts. Last Sunday, a Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- wallet that had been dormant for nearly 14 years surprised blockchain watchers by transferring 100 BTC – worth about $8.5 million or Rp138.5 billion – to four new addresses.

Wallet from 2011 Resurrects and Moves 100 BTC

This transaction occurred at block height 889,103 and involved a legacy Pay-to-Public-Key-Hash (P2PKH) type wallet known to have a starting address of “12znK.” This wallet was first active on August 2, 2011, almost 13 years ago. In its most recent transfer, the entire 100 BTC was sent to four new Pay-to-Script-Hash (P2SH) type addresses, each receiving approximately 24.99 BTC.

Interestingly, this wallet initially received only 1 BTC when it was first created. Two weeks later, on August 14, 2011, the wallet received an additional 99 BTC. At that time, the Bitcoin price was around $13.09 per unit, then dropped to around $10.13. The total value of the wallet’s stash at that time was only about $1,015.96 or Rp16.5 million. That value dropped to around $425 by the end of 2011, as the price fluctuated. Today, the value has increased by more than 836,000% since then.

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Transfer Pattern and Transaction Privacy Assessment

The BTC transfer from that wallet indicates a migration to a new wallet with a more modern and secure structure. The destination address uses the P2SH format which is currently more common as it offers additional features such as multi-sig transactions or support for simple smart contracts in Bitcoin.

However, according to Blockchair’s privacy assessment tool, this transaction only scored 50 out of 100. This score was deducted due to the structure of the transfer using all funds from one source(swept transaction) and the repeated use of the same inputs. While not suspicious, this pattern makes the transaction easier to track publicly on the blockchain.

Meanwhile, the 100 Bitcoin Cash BCH->Current BCH PriceRp 0Market Cap-Trading Volume-Circulating Supply- associated with the wallet-worth about $32,460 or Rp529 million-have yet to be moved. This is a sign that the wallet owner may only be focused on BTC and has not accessed hard forked coins like BCH.

The Old Bitcoin Wallet Phenomenon and Blockchain Searchers’ Interest

Long-dormant Bitcoin wallets are of great interest to the community, especially to on-chain searchers trying to identify “Satoshi wallets” or early wallets created in the first years of Bitcoin. Wallets from 2009 are still considered the “Holy Grail” as they are extremely rare and have never really been active again.

However, even wallets from 2010, 2011, and 2012 are now rare and the object of scrutiny in modern markets. The re-activation of wallets like “12znK” suggests that early BTC owners are starting to re-access their assets, whether for the purpose of re-securitizing, selling, or simply restructuring.

Potential Reasons and Impact on Market

There are a few possibilities as to why wallets like this are reactivated. First, the owner may have realized the immense value held and decided to secure the funds to a wallet with the latest security features. Second, there could be an intention to sell or cash out some of the assets amidst the Bitcoin price rally.

While these transactions have not directly affected market prices, the activity of legacy wallets often sparks speculation among investors, as it could signal the movements of “long-term holders” who are known to transact very infrequently.

Conclusion

The reactivation of legacy Bitcoin wallets like the one this week is a powerful reminder of the long-term potential of crypto and the staying power of digital assets. In this case, 100 BTC that was once worth IDR16 million is now worth IDR138.5 billion-a clear example of the impact of accumulation and patience in the cryptocurrency world. While the purpose of the transfer of funds remains unknown, the market is keeping a close eye on such movements as important historical and psychological indicators.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Bitcoin.com. Dormant 2011 Bitcoin Wallet Awakens, Transferring 100 BTC Worth $8.5M. Accessed March 24, 2025.
• Featured Image: Fortanix