Contrary to several earlier reports, it has been revealed that not only were 687.33 bitcoins transferred from a dormant 2014 wallet on May 6, 2024, but the owner also appears to have expended a total of 1,005.33 BTC, equivalent to almost $64 million at current exchange rates.
1,005 Bitcoin Worth $64 Million Moved From 2 Distinct 2014-Established Wallets
Some recent accounts have highlighted the movement of 687.33 BTC, valued at almost $44 million, from a 2014 bitcoin wallet on May 6. However, the reports overlooked the fact that 318 BTC had been spent earlier from an address created on the exact same day. At block height 842,265, a wallet established on Jan. 11, 2014, expended 318 BTC for the first time in over a decade.
These funds, worth slightly over $20 million, were transferred from a Pay to Public Key Hash (P2PKH) address to two distinct Pay to Witness Public Key Hash (P2WPKH) addresses. Contrary to some reports, it’s important to clarify that the 2014 bitcoins were not ‘Satoshi era’ coins, a term specifically reserved for BTC movements from 2009 and 2010. Satoshi’s ‘era’ officially ended in 2010, four years before these coins were initially obtained.
The spending of 687.33 BTC at block height 842,288 followed the earlier 318 BTC expenditure, as both originated from an address established on Jan. 11, 2014. The 687 BTC also came from a legacy-styled P2PKH wallet and were sent to two distinct P2WPKH addresses, mirroring the same pattern of the initial 318 BTC spending.
Interestingly, all four bitcoin wallets still retain the funds they received. Moreover, the owner did not transfer the corresponding bitcoin cash (BCH) associated with the two P2PKH wallets, leaving the BCH dormant. Blockchair’s privacy meter indicates that both transactions scored a low privacy score of 45, with each transfer having two issues that can compromise the anonymity of the two addresses.
Considering all the heuristics and matching patterns, including two addresses created and spent on the same days, it is highly likely that a single entity is involved. Altogether, the BTC user with two distinct 2014 wallets spent a total of 1,005.33 BTC, valued at close to $64 million.