A Bitcoin whale that had been inactive for over a decade sprang back to life on Sunday, transferring roughly $40 million worth of BTC on-chain.
The transaction occurred at approximately 19:16 UTC, according to data from Whale Alert. Funds were moved from the legacy address “1KAA8GGhVjjUjVTz1HKAjCyGNzAKQd882j” to a new wallet, “bc1qm6m6d33d02edr0k8yj9jgt027zl6dvx6thjrxy.”
Blockchain records indicate the wallet had remained untouched since November 2013, when the bitcoin was initially accumulated and then held dormant for more than ten years.
The purpose of the transfer is not immediately clear. Large holders frequently relocate funds between wallets for security or operational reasons, although such activity can sometimes precede selling or deposits to exchanges. In this case, the receiving address does not appear to be linked to any known exchange.
Movements from long-dormant wallets have become more common since bitcoin surged past $100,000 in late 2024. Over the past year, several early investors and miners have reactivated old holdings, with some opting to take profits after the market’s strong rally.
The phenomenon was particularly pronounced in July last year, when blockchain analytics firms identified eight Satoshi-era wallets—each containing 10,000 BTC—moving funds for the first time in 14 years. Those transactions coincided with bitcoin trading above $100,000, near record levels.
At the time of writing, bitcoin was trading around $80,700, down just over 1% in the past 24 hours, according to CoinDesk market data.
About The Author
More Stories
Bitcoin sees sharp volatility around CME open amid rising Iran-related risks.
MARA likely to post a Q1 loss, with attention turning to its AI expansion plans.
XRP gains 2.5%, outpacing BTC and ETH in a breakout past the $1.45 level.