Two dormant Bitcoin wallets untouched since September 2010 moved 100 BTC worth roughly $6.89 million on Friday, November 13, 2026. Whale Alert flagged the first 50 BTC transfer at 4:08 a.m. UTC, and a second 50 BTC followed just over two minutes later. At prices near $68,800 per bitcoin, the combined value marks an increase of about 1,147,511 times over the roughly $6 the mining rewards cost in 2010. The blockchain record shows no sale.
What Do the Primary Sources Show?
Both inputs trace back to block rewards mined on September 8 and September 19, 2010, when each 50 BTC subsidy was worth about $3 at roughly six cents per coin, according to Decrypt. Mempool labeled both inputs as pay-to-public-key, or P2PK, the format used by early mining software. The four receiving addresses all begin with bc1q, the prefix associated with native SegWit outputs, which indicates the coins were moved into native SegWit outputs rather than left in their original P2PK form.
Consolidation happened fast. By 4:48 a.m. UTC, about 20 BTC from the first transfer and 39 BTC from the second had landed at a new address beginning bc1qj5. Roughly 30 BTC sat at another new address starting bc1qqs, 10 BTC at bc1qds, and 1 BTC at bc1qce. Each transaction paid 1,110 satoshis in network fees, about $0.75, a trivial cost against the value moved. The Block reported the transfers, and a CryptoNews brief confirmed that no sale has been identified and that the owners remain unknown.
The timing is notable for its precision. Two mining rewards separated by 11 days in 2010 were spent within roughly two minutes of each other, which suggests a single holder controlling both keys, or at least a coordinated recovery effort. Neither address had shown any activity between the original mining reward and Friday's spend.
By the Numbers: Market Comparison
The 2010 cohort has produced a steady trickle of awakenings, and the size of each event varies widely. The table below compares this week's move with other verified dormant-wallet transfers.
Key Benchmark Comparison (Event | Date | Coins moved | Value at time | Notes)
- September 2010 mining rewards: Date: Nov 13, 2026 | Coins moved: 100 BTC | Value at time: ~$6.89 million | Notes: Two P2PK inputs, split across four bc1q addresses
- April 2010 block rewards: Date: July 2025 | Coins moved: 250 BTC | Value at time: ~$29.6 million | Notes: Five 50 BTC rewards sent to two SegWit addresses after about 15 years
- 2010 mining rewards: Date: March 2024 | Coins moved: 2,000 BTC | Value at time: ~$140 million | Notes: 40 rewards combined in a single transaction
- 2011, 2012, 2014 wallets: Date: August 2026 | Coins moved: 553.59 BTC | Value at time: More than $40 million | Notes: Six wallets moved within a 10-day stretch, per Galaxy Research
Two details stand out. The November 2026 transfer is the smallest of the recent cluster in dollar terms, yet it carries the longest dormancy at more than 16 years. The two most recent awakenings also routed coins into SegWit-era addresses, a pattern consistent with holders upgrading storage rather than preparing immediate sales.
What Are the Regulatory and Counterparty Implications?
The mechanics of the move matter more than the dollar figure for compliance teams. P2PK outputs expose the public key on-chain from the moment the coins were mined, unlike later address formats that reveal only a hash until spending. That makes very old P2PK coins a distinct category for custody providers and chain-analytics firms, which typically score such movements for source-of-funds review before any deposit reaches a regulated venue.
Nothing in the record suggests the coins touched an exchange. The consolidation pattern, several fresh bc1q addresses receiving split amounts within 40 minutes, is consistent with a holder reorganizing keys rather than staging an immediate sale. For counterparties, the practical question is provenance: a 2010 mining reward has no purchase history, so an exchange would lean on the transaction graph and the holder's own documentation.
Broader market mood offers little cushion for sudden supply. The Crypto Fear & Greed Index stood at 20 out of 100 on November 13, 2026, deep in Extreme Fear territory, a backdrop in which 100 BTC of unexpected selling could weigh on an already defensive market.
What Analysts Expect Next
Galaxy Research data highlighted in August showed decade-dormant bitcoin moving at a rare pace: six wallets dating to 2011, 2012, and 2014 transferred 553.59 BTC worth more than $40 million in a single 10-day stretch. That pattern suggests the 2010 cohort is not monolithic. Some holders are consolidating, some are testing keys, and a smaller number eventually sell.
The immediate watch item is the cluster of bc1q addresses holding the 100 BTC. Any onward transfer to a deposit address tied to an exchange would be visible on-chain within minutes, and trackers such as Whale Alert have already demonstrated how quickly such moves reach traders. Absent that, the event stays a custody story rather than a supply story.
For price, the relevant context is the broader tape. Bitcoin has traded under pressure near $69,000, with leveraged flushouts and corporate treasury sales shaping sentiment, as covered in our report on the $1.3 billion liquidation wave. A 100 BTC transfer is small against that flow, which is why the awakening reads as a historical curiosity first and a market signal second.
Frequently Asked Questions
How much were the 100 BTC worth when they were mined in 2010?
Each 50 BTC block reward from September 8 and September 19, 2010 was worth about $3 at roughly six cents per bitcoin, so the two rewards combined cost around $6. At prices near $68,800 on November 13, 2026, the same 100 BTC was worth approximately $6,885,068.
Did the dormant Bitcoin wallets sell their coins?
No sale has been identified. The blockchain record shows the 100 BTC moving from two pay-to-public-key inputs into four new bc1q addresses, with no transfer to an exchange deposit address documented in the reporting from Decrypt and The Block.
Why do old Bitcoin addresses start with bc1q after a transfer?
The original 2010 outputs were pay-to-public-key, an early format. The receiving addresses all begin with bc1q, the prefix used by native SegWit addresses, which indicates the holder moved the coins into a newer wallet type rather than spending them directly from the legacy keys.
Related Research
Primary Sources
Disclosure: This market analysis is provided for informational and educational purposes only and does not constitute financial or investment advice.