Idle No More: $11.4 Million in ‘Sleeping Bitcoins’ Wake up After Years of Dormancy

Idle No More: $11.4 Million in ‘Sleeping Bitcoins’ Wake up After Years of Dormancy

Hovering just above the $29,000 mark, bitcoin’s value remained relatively stable while an interesting event occurred on Saturday afternoon: a dormant cache of 195.79 bitcoins, untouched for over seven years, was transferred for the first time since 2016. This action was followed by another sequence of events; when a batch of slumbering bitcoins from 2014 was spent, marking their first movement in nearly a decade.
Over $11 Million in Dormant Bitcoins Spring to Life
Fast forward to August 12, 2023, when an impressive sum of 391.305 BTC, valued at $11.4 million, stirred from its long hibernation. The term “sleeping bitcoins” denotes a category of bitcoins lying inactive in an address, unspent and unmoved for extended periods.
These quiescent bitcoins, often the subject of intrigue and conjecture among cryptocurrency enthusiasts, earn their “asleep” label due to their lack of active trading or usage. A significant shift in these dormant assets could conceivably send ripples throu

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