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A long-dormant bitcoin wallet from January 2011 moved 3,962 BTC worth ~$468M on Thursday.
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The wallet received its entire balance when BTC was $0.37 and had been inactive for 14 years.
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The move follows a month of similar whale awakenings, including over $1.2B in BTC moved July 23.
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Analysts speculate sales or internal transfers amid BTC's high price environment.
Another OG Wallet Awakens
A legacy Bitcoin wallet created in January 2011 moved 3,962 BTC, worth about $468 million, early Thursday. The address had been dormant since receiving its balance when BTC was just $0.37 — worth only $1,453 at the time.
The move was preceded by a small test transaction of 0.0018 BTC before the full amount was sent to a new address.
Ongoing Whale Activity
This is part of a broader trend of dormant whales becoming active. On July 23, another address moved $1.26 billion in BTC after years of inactivity. Earlier this month, a separate OG whale moved 40,191 BTC to Galaxy Digital.
The timing has fueled speculation about upcoming sales or strategic reallocations, particularly as Bitcoin continues trading near record highs.
Who Is Behind These Moves?
While some speculate Satoshi Nakamoto could be behind the activity, Coinbase’s Conor Grogan suggests these are likely early miners from Bitcoin’s early era when block rewards were 50 BTC and mining competition was low.
Bitcoin is trading around $118,500, according to The Block’s price data.
