Dormant Bitcoin Whale Moves $40M After 12 Years
Fhumulani Lukoto
- 2 min read
Image credit: Shutterstock
A long-dormant Bitcoin whale moved 500 BTC worth about $40 million on Sunday after leaving the coins untouched since November 2013.
The wallet sent the funds to a new address, according to blockchain tracking data cited in market reports. The coins had not moved since Nov. 27 2013, when Bitcoin traded near $923, and the stash was worth about $461,500.
500 BTC Moves to New Address, Not Exchange
The 500 BTC moved from the address “1KAA8…d882j” to “bc1qm…hjrxy,” according to reports tracking the transaction. The destination was not linked to any known exchange. That helped ease immediate concerns that the wallet owner was preparing to sell on the open market.
Dormant whale movements often raise selling concerns because early holders can control large unrealized gains. In this case, the transfer could reflect custody changes, address rotation or preparation for an over-the-counter deal, but it does not confirm a sale.
CryptoQuant analysts reportedly pushed back on immediate dump concerns, saying the transaction did not show the usual signs of exchange-bound selling.
Bitcoin Stash Rises About 87-Fold Since 2013
The 500 BTC stash has risen sharply in value since it last moved in 2013. At the time, Bitcoin traded near $923, putting the wallet’s value at about $461,500. At current prices, the same 500 BTC is worth about $40 million.
That makes the transfer notable even though 500 BTC is not large enough on its own to meaningfully affect Bitcoin market liquidity.
The move still drew attention because it shows an early Bitcoin holder becoming active again after more than a decade of silence.
BTC Moved From Dormant Wallets on Sunday
The 2013 whale was not the only old wallet to move coins on Sunday. Eleven dormant wallets created between 2013 and 2017 moved a combined 859.13 BTC worth about $69.47 million.
The largest of those transfers was the 500 BTC move from the 2013 wallet. The rest came from smaller wallets created in 2014 and 2017.
For now, the main takeaway is limited. The 500 BTC transfer shows that an old Bitcoin wallet became active again, but there is still no clear sign of a sale or confirmed exchange deposit.
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Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.