CoinDesk
A Bitcoin wallet dormant since 2013 moved its entire balance of 411.45 BTC, roughly $34 million at Sunday's price of about $82,600 per coin, to a new address at 18:23 UTC. The owner acquired the bulk of the stash on Sept. 11, 2013, when Bitcoin traded near $131 and the full hoard was worth just $54,000. Thirteen years later, that paper discipline is a more than 600-fold gain, held untouched through three halvings, the 2017 boom, the 2022 FTX collapse, and the 2024 arrival of spot bitcoin ETFs.
Why it matters
The move is part of a broader pattern of historic supply changing wallets this month. A day earlier, two other wallets dormant for over a decade shifted a combined 417 BTC, and the week before a large whale wallet static since the pre-Covid crash also migrated its funds. Isolated mega-whale awakenings like these tend to spark sale speculation, but so far this month's coins have landed in new private wallets, not exchange deposit addresses.
The destination address uses SegWit (P2WPKH), the modern standard with better security and lower fees, while the original wallet relied on an outdated format. Long-dormant holders frequently migrate to upgraded formats before making major financial decisions, which supports the custodial-maintenance read.
Market impact
The on-chain footprint argues against an imminent dump. The funds have not moved to an exchange, and the new destination wallet has received only this single transfer with no outgoing activity. The whale paid a transaction fee of just 337 satoshis, a fraction of a cent, to relocate the fortune.
One detail worth noting: over the years the original wallet absorbed dozens of sub-dollar dust deposits, several from addresses Arkham Intelligence labels as phishing, a tactic known as address poisoning meant to trick owners into copying a scammer's address. The owner didn't fall for it. Watch whether these newly upgraded wallets eventually route to exchanges; until then, this is housekeeping, not supply hitting the market.
Frequently asked questions
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How much Bitcoin did the 2013 whale move and what is it worth now?
The wallet moved its full 411.45 BTC on Sunday, worth roughly $34 million at Bitcoin's price of about $82,600 per coin at the time of the transfer.
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Did the whale buy Bitcoin cheaply in 2013?
The owner received about 411 BTC on Sept. 11, 2013, when Bitcoin traded near $131. The entire balance was worth $54,000 then and has gained more than 600-fold since.
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Is the whale selling the 411 BTC?
There is no sign of a sale. The funds moved to a new private wallet, have not been sent to an exchange, and the destination address has initiated no outgoing transactions.
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Why did the whale transfer to a SegWit address?
The original 2013 wallet used an outdated address format, while the new destination uses SegWit (P2WPKH), the modern standard offering better security and lower fees. Long-dormant holders often migrate before major financial moves.
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What is address poisoning and did it affect this wallet?
Address poisoning is a scam where fraudsters send tiny dust deposits from addresses that mimic a victim's history, hoping the owner copies the scammer's address later. This wallet received dozens of such sub-dollar deposits, but the owner avoided the trap.
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