Bitcoin OG Wakes After 12 Years, Moves 500 BTC Worth $40.6M — 88x Return on the Table!

A wallet dormant for over 12 years just moved 500 BTC — worth approximately $40.62 million at current prices. The address, flagged as a Bitcoin OG (1KAA8G), originally received the coins when BTC was trading around $914, putting the total cost basis near $457,000.

The holder is now sitting on an unrealized-to-realized gain of roughly $40.17 million — an 88x return on a position held through multiple bull and bear cycles. The move follows a broader pattern of long-term holders choosing elevated price levels to finally exit.

For the market, a single 500 BTC unlock of this vintage is a meaningful bearish signal: coins that have been dormant for more than a decade re-entering circulation represent genuine sell-side pressure, not just a wallet reshuffle.