Several inactive bitcoin wallets have been reactivated
Despite the price of Bitcoin being below $60,000, several old, inactive Bitcoin wallets have been reactivated. Previously, a 2013 address that transferred 1,004.49 BTC on July 5.
On July 6, an address from December 7, 2013 transferred 149.99 BTC for the first time since it was created ten years and six months ago. The funds were transferred from traditional P2PKH (Pay-to-PubKey-Hash) wallets to Bech32 addresses, also known as local SegWit addresses.
When the funds were first obtained, BTC was trading at $698 per coin, so the funds were worth $104,693 at the time and are now worth $8.60 million.
On July 7, a larger transfer was initiated from an address created on April 1, 2016, when BTC was trading at $417 each.
The old P2PKH wallet sent 895.11 BTC to another P2PKH wallet at block height 851,087. At current exchange rates, the transfer was worth $51.30 million. At the time, the 895.11 BTC was worth $373,260.