A Bitcoin investor who acquired coins when BTC traded at approximately $131 has moved 411.45 BTC, now worth about $34 million, after leaving the wallet inactive for nearly 13 years. The transfer is part of a recent series of transactions involving long-dormant Bitcoin addresses.

According to Arkham Intelligence blockchain data, the wallet transferred its entire balance to a new address on Sunday. At a Bitcoin price of roughly $82,600, the holdings are valued at around $34 million, compared with just $54,000 when the coins were originally acquired.

The transaction follows other movements by early Bitcoin holders. Two wallets that had been inactive for more than a decade transferred a combined 417 BTC a day earlier. The previous week, another large holder moved funds from an address that had remained dormant since before the COVID-19 market crash.

When wallets holding Bitcoin for many years suddenly become active, market participants often speculate that the owners may be preparing to sell. Similar activity drew attention in 2025, when several large holders transferred coins after prolonged periods of inactivity. However, moving funds between private addresses does not automatically mean the Bitcoin will be sold.

The wallet received approximately 411 BTC on Sept. 11, 2013, when the cryptocurrency traded near $131. The owner then held the coins without any significant buying, selling or transfer activity for nearly 13 years. During that period, Bitcoin went through three halving events, the 2017 bull market, the 2022 FTX collapse and the launch of spot Bitcoin exchange-traded funds in 2024. Its price rose more than 600-fold over the same period.

The address did receive dozens of small deposits over the years, each worth less than a dollar. Some came from wallets that Arkham flags as associated with phishing activity.

Such deposits can be part of an address-poisoning scam. Attackers send small amounts of cryptocurrency to a target wallet, hoping the owner will later copy a similar-looking address from their transaction history and mistakenly send funds to the scammer.

There is no indication that the holder was caught by this tactic.

The full Bitcoin balance was transferred at 18:23 UTC on Sunday, with the transaction costing just 337 satoshis, a fraction of a cent.

The destination address has not made any outgoing transfers, and the Bitcoin has not been sent to an exchange. That suggests the movement could be related to wallet maintenance or improved asset security rather than an immediate sale, although the owner has not explained the reason.

The transaction also shifted the holdings from an older Bitcoin address format to a SegWit address using the P2WPKH standard. This format can make transactions more efficient and reduce fees.

Long-term Bitcoin holders may transfer funds to newer address formats as part of routine security updates. Until the coins move again or reach an exchange, there is no confirmation that the holder intends to sell the $34 million stash.