Bitcoin (BTC) is seeing renewed activity from long-term holders, as a wallet dormant for more than a decade suddenly moved more than 1,260 BTC, worth over $100 million.
The transaction comes shortly after another batch of extremely old Bitcoin holdings resurfaced, highlighting a notable increase in activity among wallets that had remained untouched through several major market cycles.
According to data shared by Galaxy Research, 1,260.78 BTC, valued at approximately $100.63 million, was moved on Sunday, September 6, after sitting dormant for 10.2 years. On-chain data also shows that the coins were first received on July 9, 2016, when Bitcoin was trading near $652.
The transfer was recorded at block 965770, with the Bitcoin holdings generating an estimated $99.64 million profit, according to the firm. Based on its figures, the wallet's average cost basis was around $652 per BTC, resulting in a gain of approximately 12,122% over the holding period.
Notably, the movement does not necessarily indicate that the whale has sold its holdings. Bitcoin can be transferred between wallets for security, custody, or other reasons without being sent to an exchange.



 
Nevertheless, the transfer matters because of the stash's age and size. The whale acquired the Bitcoin when the asset was still trading at a small fraction of its current valuation and held through multiple bull markets, crashes, and major changes across the cryptocurrency industry.
The transaction also adds to a growing stream of activity involving older Bitcoin.
Another entity, according to a tweet from blockchain tracking firm Whale Alert, moved about 600 BTC in separate transactions worth around $48 million after more than 16 years of inactivity. Those coins were mined in March 2010, with each of the 12 addresses receiving a 50 BTC block reward.
The age of the 600 BTC initially raised speculation that the coins could have been connected to Bitcoin creator Satoshi Nakamoto, who was still active when they were mined.
However, the firm found no evidence connecting the rewards to Nakamoto after examining the origins of all 12 block rewards.
One of the 600 BTC transfers also occurred several blocks before the others, a pattern analysts suggested could have represented a test transaction before the remaining coins were moved.
That said, the two developments underscore how much early Bitcoin remains under the control of long-term holders. While dormant coins moving does not automatically translate into selling pressure, large transfers can attract close attention from traders because owners sitting on substantial profits have greater flexibility to realize gains.
For the 1,260 BTC whale, the difference between the original acquisition cost and today's valuation is particularly striking. A holding worth roughly $820,000 when acquired has grown into a fortune exceeding $100 million, illustrating the extraordinary returns available to Bitcoin holders who held through more than a decade of market volatility.
At press time, Bitcoin was trading at $77,353, down 0.89% in the past 24 hours.
