14-year-dormant Bitcoin migrates to modern P2SH addresses

A Bitcoin (CRYPTO:BTC) wallet dormant since August 2011 recently executed a transaction transferring 100 BTC—now valued at $8.5 million—to four Pay-to-Script-Hash (P2SH) addresses.

The legacy Pay-to-Public-Key-Hash (P2PKH) wallet, identified as “12znK,” was first created on August 2, 2011, and had remained inactive for nearly 14 years.

The wallet initially received 1 BTC during its creation, followed by a second deposit of 99 BTC on August 14, 2011.

At the time of the first transaction, Bitcoin traded at approximately $13.09 per unit, while the second deposit occurred when prices had dipped to roughly $10.13 per BTC.

The total holdings then equaled $1,015.96, which fluctuated to $425 by December 31, 2011, due to market volatility.

Over the intervening years, the accumulated BTC yielded an 836,493% return on investment as Bitcoin’s price surged.

The recent transfer involved splitting the 100 BTC into four equal portions of 24.99 BTC each.

A linked Bitcoin Cash (CRYPTO:BCH) balance of 100 units—valued at $32,460—remains untouched.

Privacy analysis by Blockchair’s tools rated the transaction at 50/100, citing penalties for its swept structure and repeated use of identical input addresses.

While wallets from Bitcoin’s earliest years (2009–2012) are increasingly rare, this reactivation underscores the enduring legacy of early blockchain activity.

Analysts note that such movements often spark debates about market cycles and the potential impact of dormant funds entering circulation.

At the time of reporting, the Bitcoin (BTC) price was $86,860.16.