Dormant Bitcoin Wallets Move $2B After 14 Years
💡 Two long-dormant bitcoin wallets, untouched for 14 years, suddenly moved $2 billion worth of BTC this week — catching the attention of the entire crypto world.
🧐 Dormant bitcoin wallets became the hot topic on Friday as blockchain trackers Lookonchain and Whale Alert flagged two massive transactions. A total of 20,000 BTC — split evenly across two addresses — moved for the first time since 2011, a period in which bitcoin grew from just a few dollars to over $110,000 per coin this year. The sight of these dormant bitcoin wallets coming back to life raised questions about the intentions of their mysterious owners.
📊 Data from BitInfoCharts shows that roughly 18 million BTC sits idle in dormant bitcoin wallets, many of which are believed to be inaccessible due to lost keys. Still, when old coins like these resurface, market participants take note because sudden sales could impact bitcoin prices. Onchain School recently revealed that movement of old coins has already more than doubled in early 2025 compared to the same period last year — a trend highlighting growing activity in dormant bitcoin wallets.
🚀 According to Onchain School’s analysis published on CryptoQuant, a staggering 62,800 BTC aged over 7 years moved between January and March 2025, compared to 28,000 BTC in Q1 2024 — marking a 121% rise. The reactivation of these dormant bitcoin wallets is part of this broader trend, which many view as a sign of long-term investors reassessing their holdings as bitcoin continues to rise.
🪙 The owners of these dormant bitcoin wallets haven’t shown signs of selling yet, suggesting they may still believe in bitcoin’s long-term value. Caroline Bowler, CEO of BTC Markets, told MarketWatch that HODLing was a hallmark of early bitcoin adopters. She added that the self-discipline required to sit on such a fortune through years of market cycles is extraordinary, making these dormant bitcoin wallets even more fascinating to watch.
💼 However, Bowler cautioned that should the owners sell, it would inevitably impact the market. Selling 20,000 BTC in one chunk is unlikely — instead, it would likely happen over-the-counter (OTC) to minimize disruption. This measured approach is often used when liquidating large dormant bitcoin wallets to avoid price shocks.
🔒 Many dormant bitcoin wallets may never awaken, as countless holders from bitcoin’s early days are believed to have lost access to their keys. That’s why events like this spark so much intrigue — because not all dormant funds are truly gone. Each reactivation raises questions about just how much “lost” bitcoin is actually still recoverable from these dormant bitcoin wallets.
📈 Meanwhile, bullish predictions continue. Fundstrat’s Tom Lee recently reiterated his forecast that bitcoin could reach $150,000–$250,000 by the end of 2025. Lee points out that only about 5% of the global population currently owns bitcoin, creating a supply-demand imbalance. Combined with moves like those from dormant bitcoin wallets, it fuels speculation about how the market will absorb new supply while demand keeps climbing.
💹 Bitcoin is already up 16% this year, thanks to strong momentum and record inflows into bitcoin ETFs in May. Events like these awakenings of dormant bitcoin wallets serve as a reminder of the hidden potential — and risks — lying beneath the surface of the crypto market.
