A long-dormant Bitcoin address dating back to the early days of the network has suddenly come back to life. According to on-chain tracking platform Lookonchain, the wallet’s owner, often referred to as a Bitcoin OG, transferred 300 BTC (worth roughly $33.5 million) to Binance just two hours before the post.
Blockchain data reveals that the individual originally withdrew 749 BTC from the now-defunct Mt. Gox exchange in 2012, when Bitcoin was trading around $11. At the time, the total value of the withdrawal was just $8,151, a stark contrast to today’s valuation of over $83 million.
Lookonchain noted that this transaction marks the first-ever known sale or exchange deposit from this wallet. The same user previously moved 159 BTC to a new wallet in 2024 but did not liquidate any holdings then.
The market crash just woke up a sleeping Bitcoin OG, who deposited 300 #BTC($33.47M) to #Binance 2 hours ago.
He originally withdrew 749 $BTC($8,151 at the time) from #MtGox 13 years ago, when $BTC was just $11.
He moved 159 $BTC to a new wallet a year ago but didn't sell —… pic.twitter.com/tSxgO0Mw5E
— Lookonchain (@lookonchain) October 12, 2025
The timing of the move has drawn attention from traders and analysts, as it coincides with one of the largest market shakeouts in recent memory, the $20 billion crypto liquidation event that swept through exchanges on Friday. Historically, movements of long-dormant coins have sometimes preceded periods of volatility or local market bottoms, though no direct causation has been proven.
The wallet’s reactivation also adds to a growing list of early-era Bitcoin addresses that have stirred in 2025. Many of these wallets, inactive for a decade or more, belong to miners or early adopters who acquired Bitcoin when it was virtually unknown.
Whether this latest movement signals profit-taking or a routine reallocation remains unclear, but for the crypto community, the reawakening of such an old address serves as another reminder of Bitcoin’s long and storied history, and the enormous fortunes quietly sitting on the blockchain.