Ancient Bitcoin Leaves Wallet After 10 Years Of Hibernation

Bitcoin (BTC) is seeing some of its oldest coins come back to life after a decade of dormancy.

The latest on-chain data reveals that BTC’s two-year low has reawakened the oldest part of the supply. As BTC/USD returns to levels not seen since Q4 2020, questions are being raised about how long-term holders will act.

The on-chain picture is mixed – dormant supply is aging, but some longtime players are showing signs of wanting to sell at current prices. The supply since 2012 – or even before – totaling 510.65 BTC moved back for the first time last week.

Little is known about the coin’s origins and the motive behind its reactivation. The movements were recorded by Philip Swift, creator of the on-chain analytics resource LookIntoBitcoin.

At the same time, separate data from online chain analysis firm Glassnode confirms that many Bitcoin supplies that have been idle for more than 10 years have reached record levels.

As of September 27, a total of 2,521,378,890 BTC has not been in circulation for at least 10 years – a new all-time high.

At the time of writing, BTC is trading at $18,700.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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