Dormant Bitcoin Whales Transfer $3B After 14 Years of Inactivity

     

Three long-dormant wallets move 30,000 BTC as Bitcoin tracks S&P 500 to new highs

Bitcoin whales have reemerged after more than a decade of silence, transferring billions in BTC that had remained untouched since 2011.

On Thursday, a wallet labeled “12tLs” moved 10,000 Bitcoin — now worth over $1 billion — after holding the funds since April 3, 2011, when BTC was trading at just $0.78. The transfer was first reported by blockchain analytics firm Lookonchain.

Soon after, two additional wallets, “bc1qm” and “1GcCK,” also transferred 10,000 BTC each, according to BitInfoCharts. Each whale saw a more than 13 million percent gain over the 14-year hold, according to TradingView data.

Large, sudden whale movements are often seen as indicators of changing market sentiment or institutional repositioning due to the significant capital involved.

The activity follows a trend of long-term holders cashing in. About two weeks earlier, another early investor sold Bitcoin originally purchased in 2013, realizing nearly $30 million in profits from a $60,000 investment — a 496x return.

Corporate Bitcoin buying accelerates as equities hit new highs

Even as early whales exit, public companies are accelerating Bitcoin accumulation. Over 255 companies now hold a combined 3.47 million BTC on their balance sheets — nearly 4% of the total supply — up from just 124 companies weeks ago, according to BitcoinTreasuries.net.

At the same time, the S&P 500 and Nasdaq hit new record highs on Thursday, buoyed by a better-than-expected U.S. jobs report. Market optimism is also spilling into Bitcoin.

“Bitcoin is closely tracking equity performance and stands poised to follow equities to new highs,” said Ruslan Lienkha, chief of markets at YouHodler.

Still, analysts caution that without renewed retail interest, Bitcoin may remain capped below $112,000 despite strong institutional demand.