A massive Bitcoin wallet has suddenly sprung back to life after nearly 13 years of dormancy, sparking speculation across the crypto community.
On-chain data shows that this investor first acquired 444.81 BTC in 2012, when Bitcoin was trading at just around $12 per coin. On September 12, the wallet moved 137.03 BTC—worth nearly $16 million—out of a stash now valued at more than $50 million.
The move comes amid a wave of activity from other long-term whales. Back in July, one giant wallet shook the market by unloading more than 80,000 BTC—over $9 billion at the time—after holding them for 14 years.
In the crypto world, a “Bitcoin whale” is typically defined as an individual or entity holding at least 1,000 BTC (over $116 million at today’s price). These investors are seen as powerful market movers capable of shifting sentiment with just a single transaction.
Doug Colkitt, CEO of Crocodile Labs, commented: “When a wallet wakes up after 13 years, it’s never random. Early whales are some of the sharpest players in the space. They only move coins when they see either opportunity or risk.” He added that many of the largest Bitcoin balances remain in the hands of early adopters who rarely touch them.
Meanwhile, Jeff Dorman, CIO of crypto-focused asset manager Arca, suggested that this trend may be linked to the rise of digital asset treasuries. In an email, he wrote: “It’s possible that some Bitcoin whales are being asked to contribute directly to newly formed digital asset treasuries.”
Still, whenever whales move, the market often braces for selling pressure. Colkitt explained: “Even if the coins never reach exchanges, the fear of potential liquidation alone is enough to move markets.”
At the time of writing, Bitcoin was trading near $115,000, up about 1% over the past 24 hours and 4% in the past week, according to CoinGecko data. Although still below its all-time high of over $124,000 set last month, sentiment remains broadly optimistic. A Myriad poll found that nearly three out of four respondents expect Bitcoin to hold above $105,000 throughout September.
