A dormant bitcoin wallet that contained 444.81 BTC ($50.7 million) transferred funds for the first time in nearly 13 years on Thursday morning, according to onchain data.
An outbound send, totaling around 137.03 BTC ($15.6 million), was initiated at 11:27 a.m. UTC, data from blockchain explorer Mempool shows. The whale transferred approximately 132 BTC to a new address and sent 5 BTC to a Kraken deposit address, per Arkham labelling.
The address was last active on Nov. 26, 2012, receiving the same 137.03 BTC amount, when its 444.81 BTC balance was then worth just $5,437, blockchain monitoring platform Onchain Lens noted on X.
The reason for the transfers remains unknown, as does the identity of the wallet’s ownership, though the smaller crypto exchange transfer could be indicative of selling.
With bitcoin currently trading for around $114,025, according to The Block’s BTC Price Page, the value of the bitcoin the address transferred has risen more than 9,300 times since the funds were last moved in 2012 at a bitcoin price of just $12.22.
The original “1Q397” address still holds around 307.79 BTC, worth $35.1 million, onchain data shows.
Increased bitcoin OG whale movements
OG bitcoin wallets have ramped up their activity in recent months as the foremost cryptocurrency continued to make new all-time highs.
In July, Galaxy Digital sold off more than 80,000 BTC, valued at over $9 billion at the time, for a Satoshi-era investor related to the client’s estate planning requirements, though the large, relatively fast sale was absorbed by the market well. The funds were moved for the first time in 14 years ahead of the sale.
More recently, a bitcoin OG continued to ramp up a significant rotation from BTC to ETH this month. The wallet, which initially held over $5 billion in bitcoin, has amassed nearly $4 billion in Ethereum so far.
Another bitcoin address containing around 479 BTC, worth $53 million, also woke up after being dormant for almost 13 years last week.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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