411.45 BTC, untouched for thirteen years. At 2:23 a.m. today, a Bitcoin address that had been dormant since 2013 woke up and moved the entire $BTC in one go. At $82,600 per coin, that’s worth $34 million. The coins were bought at $131 each, for a total cost of $54,000. On-chain analytics firm Arkham spotted it first.
Put simply, money that could have bought a used car was left sitting for thirteen years—and is now worth a small apartment building. But don’t rush to call it a sell-off: those 411 coins went to a private wallet using a newer address format, not to an exchange deposit address. Older addresses cost more to spend from, so moving them to a newer format after all this time is just housekeeping, not selling.
That $34 million is only 3% of Bitcoin’s daily trading volume of 1.066 billion USDT—not enough to make a dent. What I’m watching is whether those 411 coins move to an exchange over the next two weeks. Only then would they count as selling pressure. Do you think this is just tidying up the wallet, or preparation to sell in batches?
Put simply, money that could have bought a used car was left sitting for thirteen years—and is now worth a small apartment building. But don’t rush to call it a sell-off: those 411 coins went to a private wallet using a newer address format, not to an exchange deposit address. Older addresses cost more to spend from, so moving them to a newer format after all this time is just housekeeping, not selling.
That $34 million is only 3% of Bitcoin’s daily trading volume of 1.066 billion USDT—not enough to make a dent. What I’m watching is whether those 411 coins move to an exchange over the next two weeks. Only then would they count as selling pressure. Do you think this is just tidying up the wallet, or preparation to sell in batches?