Bitcoin whale awakens after 14 years, sitting on $148 million windfall

An early Bitcoin holder controlling 2,100 BTC worth $148 million has resurfaced after 14 years of inactivity and moved a small fraction of the stash, according to data tracked by Lookonchain.

The wallet, identified as 1NB3ZX, sent about $55 worth of Bitcoin to an unidentified address on Friday.

The transfer marked the first on-chain activity from the address since it received its entire balance in July 2012, when Bitcoin traded at around $6.6, putting the original cost of the holdings at about $14,000.

The unrealized gain is roughly 10,700 times the initial investment, as Bitcoin has risen astronomically to roughly $70,000, turning a five-figure sum into a nine-figure holding.

Small transfers are often used by holders as a preliminary step before moving larger sums, allowing them to confirm wallet access and verify destination details.

Bitcoin “OG” holders have stepped up selling in the wake of a hawkish Fed stance pointing to limited rate cuts this year.

Lookonchain reported that over 1,650 BTC, valued at roughly $117 million, was sold by two early adopters on Wednesday.