A Bitcoin wallet, long inactive since the network’s beginnings, has suddenly become active. On-chain data shows that the wallet changed its entire balance after remaining intact for 13 years.
The wallet contained 909.38 Bitcoins. At current prices, the transfer is worth around $85 million. Blockchain analytics firm Arkham Intelligence reported the transaction after the funds were transferred to a new Bitcoin address.
Records show that the wallet first received Bitcoin in 2013. At that time, one Bitcoin traded for less than seven dollars. The total value of the holdings at the time was approximately $6,400.
A stark reminder of Bitcoin’s growth
The magnitude of the gain highlights Bitcoin’s long-term rise. Over the same 13-year period, traditional assets generated much lower returns.
If the same $6,400 had been invested in a low-cost S&P 500 index fund, it would be worth about $37,000 today. This reflects a gain of approximately 481%.
Gold has also performed well, but remains far behind. Benchmark gold prices have increased by around 150% over the same period. In comparison, Bitcoin generated a gain of around 13,900 times its initial value.
For many investors, this contrast explains why early Bitcoin holders are often called whales.
Old Bitcoin wallets wake up
This transfer is not an isolated case. On-chain data shows that a wave of old Bitcoin wallets will become active again in 2024 and 2025.
Wallets held by early adopters, some inactive for more than 10 years, have collectively moved more than $50 billion worth of Bitcoin. In many cases, the coins were ultimately spent rather than simply reworked.
The reason for this latest decision remains unclear. It could be a routine security update, a change of custody, or the first step toward a sale. Analysts will closely monitor whether funds are moved to known exchange wallets.
Security concerns may be a factor
Some analysts point to a growing discussion about future risks related to quantum computing. Early Bitcoin coins exposed public keys in older transaction formats.
While experts say quantum threats will remain years away, some long-time holders may be upgrading their wallet security as a precaution.
For now, this decision serves as a reminder. The early believers in Bitcoin are still here, and when they act, the market pays attention.
Disclaimer
The information provided by Altcoin Buzz does not constitute financial advice. It is intended for educational, entertainment and informational purposes only. Any opinions or strategies shared are those of the editors/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur as a result of investments related to the information provided. Bitcoin and other cryptocurrencies are high-risk assets; therefore, perform thorough due diligence. Copyright Altcoin Buzz Pte Ltd.
