As bitcoin has increased more than 5% in value against the U.S. dollar during the last week, in less than seven days, the 19,000,000th bitcoin will be mined into existence. Meanwhile, on Sunday morning, 81.79 bitcoin worth $3.65 million today and created in 2011, moved for the first time since sitting idle for more than 11 years.
‘Sleeping Bitcoin’ That Sat for Over a Decade Moved on Sunday, Data Shows 14 Spends from 2011 Occurred This Year
On Sunday, March 27, 2022, the price of bitcoin (BTC) has increased 5.8% during the last week, 14.8% over the last two weeks, and 16.4% during the last month. Year-to-date, BTC is down 18.9% in value against the U.S. dollar and there’s 18,995,393 BTC in circulation today.
During the morning hours on Sunday, $3.65 million worth of BTC that were mined in 2011, was moved for the first time in 11 years. The ‘sleeping bitcoin’ transactions were caught by the blockchain parser Btcparser.com. Data shows that the 50 BTC, that was sent on Sunday, originated from mined BTC that were issued on January 30, 2011.
Interestingly, unlike many ‘sleeping bitcoin’ subsidy rewards that sit idle for more than a decade, the 50 BTC transfer has a 100% “healthy” privacy rating stemming from Blockchair’s privacy-o-meter tool. No privacy issues were discovered according to Blockchair’s tool.
The 50 BTC from January 30, 2011, were worth $2.22 million at the time of transfer at block height 729,187.
Following the 50 BTC spend from 2011, another group of ‘sleeping bitcoins’ from August 30, 2011, were sent from the original address after ten years and six months. This particular spend was approximately 31.793 BTC and it was spent at block height 729,248 after the 50 BTC spend.
Data shows when the 31.793 BTC was sent it was worth $1.4 million at the time of transfer according to today’s BTC exchange rates. However, unlike the 50 BTC spend today, the 31.793 BTC was sent with less privacy.
Blockchair’s privacy-o-meter tool indicates that the 31.793 bitcoins sent on Sunday had a score of 75 which is a “moderate” amount of privacy.
Matched addresses were identified and the tool says: “Using several indicators we were able to link the similar types of addresses involved in this transaction. We identified which of the recipient addresses possibly belong to one or more senders. Such matching significantly reduces the anonymity of addresses.”
Some of the bitcoin from the 31.793 BTC stash derived from this wallet which originally sent 22.099 BTC on August 30, 2011.
So far for 2022, there’s been approximately 14 BTC spends from 2011 ‘sleeping bitcoin’ stashes, four in January, seven in February, and three so far in March. Prior to the two 2011 spends today, the last one occurred on the first day of March at block height 725,515.
At that time, 12 bitcoin worth $536K using today’s exchange rates, were sent from a wallet with BTC that sat idle since June 14, 2011.
In addition to the 2011 BTC, on March 26, 2022, a dormant bitcoin address that held 500 bitcoin activated after 9.8 years, according to Whale Alert. 400 BTC stemmed from a transaction from June 14, 2012, and the remaining 100 BTC came from a transaction sent on November 23, 2013.
That transaction of 500 BTC caught by Whale Alert was worth $22.1 million at the time of settlement.
What do you think about the 81.79 bitcoin from 2011 that was sent on Sunday for the first time in over a decade? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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