On July 31, five dormant wallets from 2010 moved a combined 250 BTC—worth nearly $30 million—after sitting untouched for over 15 years.
Blockchain analysts at Arkham confirmed that each wallet received 50 BTC as block rewards back in April 2010, when Bitcoin was trading at just fractions of a cent. At the time, mining a block on a home computer cost less than a dollar in electricity, and the reward was still a full 50 BTC per block.
The transferred coins were moved to SegWit-enabled “bc1q” addresses, offering more modern transaction features. Onchain trackers like Lookonchain and Spotonchain flagged the transfers, which are part of a broader trend of decade-old wallets becoming active as BTC prices surge.
Bitcoin has gained over 27% this month, now hovering around $118,480—just shy of its all-time high of $122,838. While some early holders may be cashing out, analysts say the market remains resilient, with rising demand—especially for Ethereum—helping absorb renewed supply.
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