Bitcoin Whale, Dormant for 13 Years, Awakes! Transfers Millions of Dollars! Here Are the Details

A Bitcoin wallet that has been dormant for nearly 13 years transferred its 479.69 $BTC ($53.2 million) for the first time on Thursday morning.

Bitcoin Wallet Moving After 13 Years: From $4,400 to $53 Million

According to Onchain data, a total of 81.25 $BTC ($9 million) was moved from the wallet in five transactions between 05:36 and 12:29.

The wallet last sent 4 $BTC ($44) in November 2012, when its 398 $BTC balance was worth only $4,400. Over the next 18 months, the wallet received approximately 81 more $BTC, with only small transactions occurring thereafter.

The $BTC in the latest transfers was transferred from the older “16fXT” P2PKH address to the more modern “bc1q” SegWit addresses. According to onchain analytics platform Arkham, the majority of the funds have not yet been transferred elsewhere and are sitting in unidentified addresses. Therefore, the purpose of the transfers and the identity of the wallet owner remain unknown.

As of today, with Bitcoin trading at $111,000, the value of these assets has increased 10,000-fold since 2012. The wallet currently holds 398.44 $BTC ($44.2 million).

Recently, there has been a noticeable increase in activity among legacy wallets known as “Bitcoin OG.” In July, Galaxy Digital sold off 80,000 $BTC ($9 billion) as part of its succession planning. More recently, another whale began converting its billions of dollars worth of $BTC into Ethereum (ETH).

This latest development shows that early-stage investors, who have been inactive for a long time, are starting to play a role in the market again.

*This is not investment advice.