Six long-inactive Bitcoin wallets moved 553.59 BTC worth $40.15 million, some tied to a legal dispute over dormant addresses.
Six Bitcoin wallets inactive since 2011, 2012, and 2014 transferred a combined 553.59 BTC, valued at $40.15 million, between August 16 and 26. The movements mark a rare reactivation of early-era holdings, some purchased for as little as $14 per coin in 2011.
The oldest transaction involved 8.54 BTC, dormant since June 13, 2011, which moved at a value of $538,000, reflecting a 461,981% gain. Two wallets are linked to “Salomon Client Dusted” tags, tied to a pseudonymous plaintiff suing to claim 39,069 dormant Bitcoin addresses in a New York court.
The reactivation of these wallets is unusual, as most early Bitcoin holders have either lost access or sold their holdings. On-chain analysts closely monitor such movements due to their rarity and potential market impact.