On Sunday, a wallet that had lain inactive for nearly 14 years sprang to life, executing a transaction of 100 BTC—a haul from 2011 now valued at $8.5 million.
14-Year-Dormant Bitcoin Migrates to Modern P2SH Addresses
At block height 889,103, a long-dormant Pay-to-Public-Key-Hash (P2PKH) wallet sprang into action, migrating 100 BTC—now valued at $8.5 million—to four separate Pay-to-Script-Hash (P2SH) addresses. The legacy wallet, identified as “12znK,” was first created on Aug. 2, 2011, roughly 13 years and seven months ago.
The new wallets now each contain 24.99 BTC following the transfer. The linked 100 bitcoin cash ( BCH)—valued at $32,460—remains inactive. While it was first active on Aug. 2, 2011, the 12znK wallet initially received just 1 BTC during its creation.
Nearly two weeks later, on Aug. 14, 2011, an additional 99 BTC flooded into the address. At the time of the first deposit, bitcoin’s value hovered at $13.09 per unit, though it dipped to roughly $10.13 per BTC by the second transaction.
Collectively, the wallet’s holdings then amounted to $1,015.96, a figure that dwindled to $425 by Dec. 31, 2011, as prices fluctuated. Over the intervening years, the accumulated BTC has yielded a staggering 836,493% return on investment.
Per Blockchair’s privacy assessment tool, the recent transfer garnered a privacy rating of 50/100, penalized for its swept transaction structure and recurring use of identical input addresses.
Though dormant bitcoin wallets from 2009 remain the Holy Grails for onchain sleuths tracking vintage transactions, those from 2010, 2011, and even 2012 have grown increasingly scarce in contemporary markets.
Source: Bitcoin
