Data from Lookonchain shows an early bitcoin miner wallet with 4,000 BTC (about $442 million) has become active for the first time in 14 years.
The wallet, identified as 18eY9o, transferred 150 BTC (roughly $16.6 million) after several years of dormancy.
These coins were originally mined in 2009 and consolidated in the wallet in 2011. The movement may signal a rotation, potential sale or just a test activity.
A big narrative this year has centered on selling pressure from early “AND” holders who have begun moving or selling their bitcoin after it hit the symbolic $100,000 milestone.
Onchain data shows significant realized profits, suggesting that old holders are taking advantage of high prices. Earlier this year, around 80,000 BTC tied to an early whale, inactive since 2011, sold the entire stash using Galaxy Digital as a broker.
Some analysts also point to growing concern over quantum computing and its potential threat to early bitcoin addresses, which may explain the movement of older coins.
Bitcoin OG and Fragrant Board Director Nicholas Gregory told CoinDesk about the potential threat of quantum attacks.
“It is true that OG holders have sold, but coins from this era (2011) may be vulnerable to potential quantum attacks if their public keys have been exposed (as is the case with early P2PK addresses or recycled P2PKH addresses),” he Gregory said.
“This could be a preemptive step to transfer coins to new, unexposed addresses that would be better protected against such quantum hacks”.
