Satoshi-Era Bitcoin Wallet Moves $44M After 12 Years Dormancy

A Bitcoin wallet dormant for 12 years recently moved approximately 400 BTC, worth around $44 million, marking its first activity since 2013 when Bitcoin was priced at about $135 to $720. The wallet, originally funded by miners around 15 years ago, transferred the coins in roughly equal batches, emptying the address. The identity of the owner and the purpose of the transfers remain unknown, but such movements often indicate profit-taking or portfolio repositioning by long-term holders, especially given Bitcoin's significant price surge to over $110,000 in recent times. This activity is part of a broader trend of early Bitcoin wallets, including some holding massive sums like 80,000 BTC, becoming active as the market reaches new highs, sometimes moving funds to exchanges which hints at potential selling. Analysts interpret these reactivations not as panic selling but as strategic moves possibly preparing for the next market cycle. Metrics like Coin Days Destroyed and Spent Output Profit Ratio suggest that while some long-term holders are realizing profits, many remain patient, reflecting a complex market sentiment among veteran investors.