- Two 2011-era wallets each holding 10,000 BTC were reactivated after 14 years, triggering the transfer of over $2.2B to new addresses.
- Six more dormant wallets with 10,000 BTC each also moved their funds, suggesting one entity controls at least 80,000 BTC—now valued at $8.8 billion.
- None of the BTC has been sold yet, but the synchronized movements and legacy-to-modern address upgrades point to strategic planning by a crypto mega-whale.
In a rare and mysterious move, several long-dormant Bitcoin wallets—each holding 10,000 BTC—sprang back to life after more than 14 years of complete inactivity. According to on-chain data, the reactivated wallets transferred their BTC stashes on Thursday and Friday, reigniting discussions about early adopters, lost coins, and hidden crypto whales.
The Origins: 2011 Transactions Worth Pennies Then, Billions Now
On April 3, 2011, a wallet labeled “1HqXB…gDwcK” moved 23,377.83 BTC to three new wallets. Two of them each received exactly 10,000 BTC, while the third took the remaining 3,377.83 BTC. At the time, Bitcoin was worth just $0.78, making each of the 10,000 BTC transfers worth around $7,800. Those wallets—”12tLs…xj2me” and “1KbrS…AWJYm”—remained untouched for over a decade. Then, late last week, they moved their entire holdings to fresh modern-format addresses within 30 minutes of each other.
Six More Whale Wallets Emerge
The story doesn’t end there. Blockchain sleuths at Lookonchain noted that six more addresses, also with 10,000 BTC each, were activated on Friday. These were funded on May 4, 2011, when Bitcoin had jumped to $3.37, placing their original value at just $33,700. Fast forward to today, and each of those wallets is worth approximately $1.1 billion. The synchronized timing and transaction structure suggest all eight wallets—80,000 BTC total—are likely controlled by the same entity.
No Sales, Just Movement… So Far
Interestingly, none of the newly activated receiving wallets have moved the coins since. The BTC was simply transferred from legacy addresses to newer, more efficient formats. This kind of behavior has raised speculation that the owner is either updating security, preparing for future moves, or possibly even estate planning. Regardless, the timing and coordination have sent shockwaves through the crypto world.
A Billion-Dollar Reminder of Bitcoin’s Early Days
With Bitcoin holding above $100,000 and targeting a new all-time high past $112,000, these movements are a stark reminder of the enormous wealth created by Bitcoin’s earliest believers. Whether these reactivations will lead to sales—or just remain on-chain curiosities—remains unknown. But the reawakening of these whale wallets is already among the most talked-about crypto events of 2025.
