Dormant 2011 Bitcoin wallet shifts $3.2 million

A Bitcoin wallet untouched since 2011 has moved 50 BTC worth about $3.2 million to a new address with transaction links to FalconX, reviving scrutiny of cryptocurrency holdings dating from the network’s earliest years.

The 50 BTC remained in the receiving address on Friday, providing no direct evidence that the coins had been deposited with FalconX or sold. However, the destination wallet has previously transferred Bitcoin to addresses labelled as FalconX deposits by blockchain intelligence platforms, raising the possibility that the funds are being positioned closer to an institutional trading venue.

The distinction is important because blockchain transfers alone do not establish an intention to sell. Holders frequently move digital assets between addresses for security upgrades, custody changes, estate planning or portfolio reorganisation. A transfer to an intermediary wallet may also precede an over-the-counter transaction without reaching a public exchange.

Bitcoin was trading around $64,000-$65,000 this week, placing the value of the 50-coin holding near $3.2 million. The same quantity of Bitcoin was worth only a tiny fraction of that amount when the address was active in 2011, illustrating the extraordinary appreciation enjoyed by holders who retained coins from the cryptocurrency’s formative period.

Wallets dating from 2009 to 2011 receive unusually close attention from traders because substantial amounts of Bitcoin from that era have never moved. Some private keys may have been lost, while other coins are believed to remain under the control of early miners and adopters who have chosen not to spend them.

Bitcoin’s mining reward was 50 BTC per block during those years, before the network’s first programmed halving reduced the reward to 25 BTC in November 2012. That has left numerous early addresses holding balances of exactly 50 BTC, although such a balance does not establish that the coins belonged to Bitcoin creator Satoshi Nakamoto.

There is no evidence linking the wallet involved in Friday’s activity to Nakamoto. Researchers studying Bitcoin’s early blockchain have developed patterns for identifying groups of blocks that may have been mined by the pseudonymous creator, and an old address moving after years of inactivity is not by itself sufficient to establish ownership.

The FalconX connection nevertheless adds a market dimension to the transaction. FalconX operates as an institutional digital-asset prime broker, providing trading, financing and custody-related services to professional investors. Transfers associated with institutional brokers can indicate preparations for trading, but they can also represent custody arrangements or internal settlement activity.

Bitcoin holders have increasingly used specialist brokerage and over-the-counter desks when moving large positions. Such venues can match buyers and sellers without requiring the entire transaction to pass through visible exchange order books, potentially reducing the immediate price impact of a large disposal.

Movements from dormant wallets have become a recurring feature of the Bitcoin market as early holders gain access to wealth accumulated more than a decade ago. Several large pools of early Bitcoin have changed addresses over the past year, sometimes producing speculation about imminent selling even when the coins remained outside exchanges.

One of the most closely watched episodes came in July 2025, when wallets inactive since 2011 moved a combined 80,000 BTC, then worth about $8.6 billion. The transfers initially generated concern that a major early holder was preparing to liquidate. Blockchain analysis instead indicated that the coins were being shifted to newer addresses, and no immediate large-scale market sale followed.

Other dormant addresses have subsequently moved smaller holdings after periods exceeding a decade. The transactions underline how blockchain transparency allows market participants to follow coins even when the identities controlling the wallets remain unknown.

The significance of dormant coins extends beyond individual transactions. Bitcoin has a fixed maximum supply of 21 million coins, while more than 20 million have already been mined. Coins that remain inaccessible or untouched for long periods effectively reduce the supply actively available for trading.

Arabian Post – Crypto News Network