A dormant bitcoin wallet address containing 479.69 BTC ($53.2 million) transferred funds for the first time in nearly 13 years on Thursday morning, according to onchain data.
Five outbound sends, totaling around 81.25 BTC ($9 million), were initiated from 2:36 a.m. to 9:29 a.m. UTC, data from blockchain explorer Mempool shows.
The address last sent 4 BTC (approximately $44 at the time) on Nov. 13, 2012, when its approximate 398 BTC balance at the time was worth just $4,400, onchain monitoring platform Whale Alert first noted on X. However, it continued to receive around 81 BTC over the next 18 months — almost matching Thursday’s outbound total, with only dust transactions thereafter.
Each of the transactions moved funds from the legacy “16fXT” address to more modern “bc1q” native SegWit addresses. Aside from two small, potentially test transactions, the bulk of the funds have not been transferred further so far, and remain unlabelled, according to the onchain analytics platform Arkham. Therefore, the reason for the transfers remains unknown, as does the identity of the wallet’s ownership.
Starting with a 1, legacy Pay-to-PubKey-Hash (P2PKH) addresses are the oldest style of bitcoin addresses. After that came Pay-to-Script-Hash (P2SH) addresses starting with 3, then native SegWit (P2WPKH) addresses starting with bc1q, and finally Taproot (P2TR) addresses starting with bc1p — the most up-to-date format.
With bitcoin currently trading for around $111,000, according to The Block’s BTC price page, the value of the bitcoin the address transferred has risen more than 10,000 times since funds were last moved out of the wallet in 2012.
The original “16fXT” address still holds around 398.44 BTC, worth around $44.2 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 ether so far.
© 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.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
