A batch of early Bitcoin wallets, untouched since 2010, sprang to life on Thursday, moving a combined 250 BTC, currently valued at nearly $30 million. Each wallet originally received a 50 BTC reward over 15 years ago as part of the block subsidy during the network’s infancy.
These addresses, first activated in April 2010, had remained dormant until now. Blockchain tracking platform Lookonchain reported that the coins were transferred to newer SegWit-format addresses (beginning with “bc1q”), indicating the owner used a modern wallet interface to initiate the transactions. The source addresses, recognisable by their “1” prefix, belong to Bitcoin’s legacy address format, affirming their age.
At the time of mining, Bitcoin traded for roughly $0.003 per coin, making the full 50 BTC reward worth just around 15 cents. Back then, blocks were mined using household CPUs, and the cost to mine one could be as low as $1, factoring in the average U.S. power rate of 11.5 cents per kilowatt-hour in 2010.
These recent movements follow a growing pattern of early Bitcoin wallets suddenly becoming active, particularly as the price inches closer to historical highs. In July alone, several long-dormant addresses transferred thousands of BTC, likely driven by the asset’s 2025 bull run and increased institutional presence.
Bitcoin is currently hovering around $118,480, up 27% since January, and just shy of its all-time peak of $122,838. As prices surge and the market matures, legacy holders may be re-evaluating storage options, asset protection strategies, or even preparing for liquidation after over a decade of inactivity.
