125 Million USD Bitcoin Awakens After 8 Years of Slumber

On Tuesday, when the price of bitcoin was comfortably above $110,000, holding at $113,850 at 4 PM Eastern Time, a long-time holder transferred 1,100 BTC - worth $125.23 million - for the first time in over eight years. Bitcoin Assets That Have Been Dormant for a Long Time Have Reappeared After the record spending level of last month, the dormant Bitcoin supply continues to stir in August. On August 5, btcparser.com detected a "whale" that had been silent, holding coins purchased on January 17, 2017, January 22, 2017, and June 24, 2017, which activated 11 wallets containing 100 BTC each. The old Pay-to-Public-Key-Hash (P2PKH) wallets sent this amount to 11 completely new Pay-to-Witness-Public-Key-Hash (P2WPKH) addresses.

As of the time of writing this article, the amount worth $125.23 million still remains intact in these new wallets. Notably, the owner transferred the Bitcoin Cash ( BCH ) related to this Bitcoin back on January 17, 2018, when this entity moved approximately 3,000 BCH at that time. The newly created P2WPKH addresses were discovered on August 5, 2025, with each address holding approximately $11.37 million, exactly equivalent to 100 BTC.

On January 17, 2017, the price of BTC was around $899.66 per coin, and by the end of June 2017, its price mainly fluctuated between $2,400 and $2,700. By the end of that month, the owner's 1,100 coins were worth about $2.97 million — a stark contrast to the current figure of $125.23 million. By holding this amount for over eight years, the value of the holder has increased by 42 times, equivalent to a 4,117% increase compared to the US dollar. The wave of Bitcoin trading has significantly slowed down last month, with at least 80,000 coins sold in the open market. However, many transactions — and possibly the transaction of 1,100 BTC on Tuesday between blocks 908768 and 908773 — seem to be about consolidating funds into wallets using the new address format. These updated formats are said to provide enhanced features and stronger security, including improved signatures and defense capabilities against transaction malleability. Attention-grabbing headlines about the potential advancements of quantum computers could further drive this change.