As bitcoin surged to a fresh all-time high of $118,839, a long-dormant cache of coins suddenly came back onchain. Blockchain data shows that 400 BTC moved on July 11 for the first time since the wallets were created in 2013. At current prices, the stash is worth roughly $47.19 million.
2013-era wallets wake up
According to btcparser.com, the funds were transferred through 16 separate transactions. Each transaction originated from a legacy P2PKH wallet created in early 2013, with every address sending exactly 25 BTC to a newer P2WPKH address. The transactions were confirmed between block heights 905014 and 905017.
All 400 BTC came from wallets established between late February and March 2013. Back then, the entire holding was worth only about $13,724. Today, that same amount carries a market value of around $47.19 million, representing a gain of about 3,439x, or roughly 343,638%, over more than 12 years.
Old-coin whale activity intensifies in July
The move adds to a growing wave of activity from long-idle bitcoin wallets this month. The report notes that on July 4, 80,000 BTC dating back to 2011 changed hands. On July 7, another dormant wallet moved 99.99 BTC for the first time since July 27, 2017. Following the latest 2013-era transfer, wallets from 2016 and 2017 were also seen moving 41.09 BTC and 16.54 BTC, respectively.
Destination appears linked to Bitgo
Arkham Intelligence data suggests the receiving P2WPKH address is associated with crypto custodian Bitgo. It remains unclear whether the owner intends to sell the coins or is simply shifting them into a custodial setup for safekeeping.
From a blockchain perspective, the pattern looks like a structured wallet migration: funds were split from older address types, consolidated into a modern format, and then routed to what appears to be a custodian-linked wallet. With bitcoin trading at record highs and investors closely watching whale behavior, such reactivations of decade-old holdings are likely to remain a focus for the market.