Overview

• On Sept. 11, blockchain trackers observed 137 BTC worth about $15.6 million moved from a wallet first active in 2012, including a 5 BTC deposit to Kraken.
• The early holder kept a substantial balance of more than 300 BTC, signaling the position was not fully liquidated.
• Records show the coins were first acquired when Bitcoin traded near $12, converting a few thousand dollars into tens of millions.
• The move adds to a rising wave of activity from long-dormant addresses, following July’s 80,000 BTC relocation and other early-holder transfers in recent weeks.
• Analysts cite potential profit-taking, security upgrades, treasury contributions, or portfolio rotation, while noting many such transfers do not result in immediate exchange selling.