A long-dormant bitcoin holder moved 1,260.77 BTC—valued at more than $100 million at the time of transfer—at block height 965,770, according to on-chain data. The transaction follows the recent awakening of multiple 2010-era wallets that shifted a combined 600 BTC earlier this month. Separately, blockchain watchers also noted that 75 Casascius physical bitcoins were “peeled,” a term used when their embedded private keys are redeemed.
2016-Era Whale Moves 1,260.77 BTC
Blockchain records show a wallet first created in 2016 executed a major transfer totaling 1,260.77 BTC at block height 965,770. Based on prevailing market prices at the time of the move, the transfer exceeded $100 million in value. The purpose of the transaction and the ultimate destination of the coins were not immediately clear.
Satoshi-Era Coins Stir as 2010 Wallets Shift 600 BTC
The whale activity comes on the heels of separate movements from 2010-vintage wallets—often referred to as “Satoshi-era” coins—totaling 600 BTC. Coins from that period are rarely spent, and their movement tends to draw attention due to their age and historically low cost basis.
75 Casascius Coins Redeemed
In a related development observed on-chain, 75 Casascius coins were recently “peeled.” Casascius coins are physical bitcoin tokens created between 2011 and 2013 by maker Mike Caldwell. Each coin contains a tamper-evident hologram concealing a private key. Peeling refers to removing the hologram and redeeming the BTC to a digital wallet. The denominations of the redeemed pieces were not disclosed.
Why It Matters
- Long-dormant supply moving can signal changes in holder behavior, including re-custody, estate planning, or profit-taking.
- Such transfers do not necessarily indicate imminent selling on exchanges; many are restructurings or moves to updated security setups.
- Peeling of Casascius coins reduces the number of intact physical pieces, a niche collectible market tracked by enthusiasts.
On-chain observers will continue to monitor subsequent transactions for signs of exchange deposits or further consolidation that could clarify the intent behind these movements.