A Bitcoin whale that had remained inactive for over ten years resurfaced on Sunday, moving approximately $40 million worth of BTC in a single on-chain transaction.

Data from Whale Alert shows the transfer occurred around 19:16 UTC, with funds sent from the address “1KAA8GGhVjjUjVTz1HKAjCyGNzAKQd882j” to a new wallet, “bc1qm6m6d33d02edr0k8yj9jgt027zl6dvx6thjrxy.”

The wallet had not recorded any activity since November 2013, when the bitcoin was first accumulated and then held untouched for more than a decade.

The intent behind the move is unclear. Large holders commonly shift assets between wallets for security or operational purposes, though such transactions can also precede sales or transfers to exchanges. In this case, the receiving address does not appear to be tied to any known exchange.

Dormant wallet reactivations have become more frequent since bitcoin climbed above $100,000 in late 2024. Over the past year, several early investors and miners have begun moving long-held coins, with some eventually capitalizing on the asset’s strong rally.

The trend was especially notable in July last year, when blockchain analytics firms detected eight Satoshi-era wallets—each holding 10,000 BTC—initiating transactions for the first time in 14 years. These movements occurred as bitcoin traded above $100,000 and hovered near record highs.

At the time of writing, bitcoin was trading at roughly $80,700, down just over 1% in the past 24 hours, according to CoinDesk data.