Dormant Bitcoin Wallet From 2011 Moves 20 BTC After 15 Years of Inactivity

A Bitcoin wallet that had been dormant since May 2011 transferred 20.43 BTC, valued at approximately $1.7 million, across two transactions on September 29. According to Galaxy Research, the coins were acquired at an average cost of $3 to $4 per BTC, representing a massive unrealized profit of roughly $1.724 million. While the transfer is unlikely to exert direct market pressure, the recent trend of early Bitcoin wallets reactivating throughout September has raised psychological concerns among some investors.