A bitcoin wallet first created in July 2016 transferred 1,260.77 BTC to an unknown address at block height 965770, with the funds valued at over $100 million at current prices. The transfer marks the latest in a series of dormant wallet movements, following activity from a 2010-era wallet that moved 600 BTC earlier in September.
The wallet accumulated its holdings when bitcoin traded near $650 per coin in July 2016, meaning the stash was worth approximately $819,500 at that time. With bitcoin trading near $79,733, the decade-old position has gained approximately 11,366% in value.
Beyond large whale movements, physical bitcoin holders have been actively redeeming Casascius coins, which are metal coins or bars created between 2011 and 2013 by Mike Caldwell. These coins were loaded with digital BTC ranging from fractional amounts to 1,000 BTC per coin. When a Casascius coin is peeled or redeemed, the owner removes the physical coin's holographic sticker to access the private key and spend the loaded bitcoin.
During the first six days of September, nearly 75 redemptions of 1 BTC Casascius coins were recorded. On September 3, there were 14 redemptions; September 4 saw approximately 15 redeemed; and September 5 alone accounted for 40 redemptions. Additional peeling activity continued in subsequent days.
The concurrent movement of large dormant holdings and physical coin redemptions suggests vintage bitcoin holders are taking profits, with the market absorbing significant old supply amid recent trading volatility.
