The long-term lying Bitcoin Zilla has resurfaced and has been moving its funds since 2012.
On September 11, blockchain tracker LookonChain revealed that three connected addresses had shifted 137 BTC, worth around $15.6 million from a cache of 955 BTC (valued to $108 million).
According to the company, a small portion of the fund, 5 BTC, has been sent to Kraken, suggesting its intention to sell it.
In particular, the address was last active when Bitcoin was traded for just $12 per coin, and at that point its total balance could be around $10,000.
However, as BTC prices are close to $113,000 at the time of reporting, the same stash is currently worth over $108 million. Encryption data. This represents more than 10,000% profit in more than 10 years.
Door Bitcoin wallet resurfaces
The move fits with recent trends in long Bitcoin wallets that have woken up after years of inactivity.
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It is brought about by encryption
For the context, Encryption Galaxy Digital reported that it ran a $9 billion Bitcoin sale in July and linked it to Satoshi-Era owners. Another whale investor steadily rotated billions from Bitcoin to Ethereum in August, bringing the top crypto market down for a short time.
Furthermore, CryptoQuant analyst Ja Maartunn pointed out that these transfers are not isolated cases as more than 604,000 BTC from March to 5 to 5 have been on-chain since March.
This surge in wallet activity marks one of the most important behavioral changes among long-term Bitcoin holders of recent memory. The sudden relocation is heavy as investors in this cohort typically survive multiple market cycles without moving the coin.
Against this backdrop, many analysts see the transfer as profitable by the holder choosing to lock the profit when Bitcoin violates the $110,000 mark on the new high.
However, others interpret activities differently. They reflect a rebalancing of the portfolio of turnover capital from Bitcoin to Ethereum, suggesting that they would choose altcoins as institutional demand for cryptos rises.
