Dormant 2011 Bitcoin Wallet Moves 100 BTC Bought for $324, Now Worth More Than $8 Million
AI Market Summary
Dormant Bitcoin from 2011 and miner-derived coins from 2013 moved on-chain, with part of the flow directed to custodian BitGo. Such "old coin" activity can raise near-term monitoring of potential supply overhang, especially when routed to institutional custody that may precede distribution. However, the wallet destination is not tagged to an exchange and on-chain data does not confirm selling, limiting immediate market implications.
Impact level
● Low
Affected assets
BTC/USDT-1.14%
AI Insight · BTC/USDTAI Insight
● Neutral
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ChainCatcher reported that a Bitcoin wallet created on Nov. 2, 2011 moved 100 BTC at block height 967,732, with the transferred amount valued at more than $8 million.
Onchain records show the wallet acquired the 100 BTC at about $3.24 per coin, or roughly $324 in total, implying an unrealized gain of around 24,690,000% at current valuations.
The same day, four wallets created between February and March 2013 each transferred 25 BTC, sending a combined 100 BTC to crypto custody provider BitGo. Onchain analysis suggests these coins originated from block rewards mined in March 2013, and the miner has been moving similar-sized batches to BitGo consistently since August 2025.
Together, the transactions total 200 BTC, now worth over $16 million. The 2011 wallet's new destination is a P2WPKH address and has not been labeled by major block explorers as belonging to an OTC desk or a centralized exchange. Onchain data does not indicate whether the BTC routed from the 2013 miner to BitGo has been sold.
