Two Dormant Bitcoin Wallets Move 100 BTC After 16 Years, Turning $6 Into $6.9M

TL;DR

• Two Bitcoin wallets inactive for more than 16 years transferred a combined 100 BTC, currently valued at approximately $6.89 million.
• The coins originated from mining rewards received in September 2010, when each 50 BTC block reward was worth around $3.
• The transfers involved newer Bitcoin address formats, highlighting how early holders continue to manage and reposition their long-term holdings.
  

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Two dormant Bitcoin wallets have become active after more than 16 years, transferring a combined 100 BTC worth approximately $6.89 million. The transactions offer another glimpse into Bitcoin’s early mining era, when block rewards could be accumulated at minimal cost compared with today’s market prices.

According to blockchain data from Mempool, both wallets received their original 50 BTC mining rewards in September 2010. At the time, each reward was valued at roughly $3. Their recent movements demonstrate the extraordinary long-term appreciation of Bitcoin and the financial significance of its earliest mining participants.

💤 A dormant address containing 50 $BTC (3,442,129 USD) has just been activated after 16.2 years (worth 3 USD in 2010)!https://t.co/7jmVX4WOnw

— Whale Alert (@whale_alert) November 13, 2026

Bitcoin Transfers Reveal The Value Of Early Mining Rewards

The first transaction occurred at 4:08 a.m. UTC on Friday, when one wallet transferred almost 50 BTC to a new address and sent another 0.01 BTC elsewhere. Just over two minutes later, the second wallet moved nearly 49 BTC to another destination, alongside a separate transfer of 1 BTC.

Whale Alert initially reported the activity, while Mempool provided the underlying blockchain data. By 4:48 a.m. UTC, approximately 59 BTC from both transactions had been consolidated into a newly created address beginning with bc1qj5.

The remaining funds were distributed across additional addresses. Around 30 BTC moved to an address starting with bc1qqs, while another 10 BTC and 1 BTC appeared at addresses beginning with bc1qds and bc1qce, respectively. The transfers involved several newly generated Bitcoin addresses.

The ownership of these wallets and the reason behind the transfers remain unknown. There is also no confirmed evidence that both addresses belong to the same individual. The public blockchain reveals the transactions without identifying the people behind them.

Bitcoin Address Evolution Reflects A Maturing Network

Beyond their financial value, these transactions illustrate how Bitcoin’s infrastructure has evolved. Mempool identifies the original mining outputs as pay-to-public-key (P2PK), an older transaction format associated with Bitcoin’s early years.

The destination addresses use the bc1q prefix, associated with native SegWit transactions. This format generally offers improved transaction efficiency and lower fees compared with older address structures. Bitcoin also supports Taproot addresses, which begin with bc1p and introduced additional scripting and privacy capabilities. These developments show how the network has adapted while maintaining its underlying monetary principles.