Lookonchain data shows first bitcoin The miner’s wallet containing 4,000 BTC (approximately $442 million) became active for the first time in 14 years.
The wallet, identified as 18eY9o, transferred 150 BTC (approximately $16.6 million) after years of dormancy.
These coins were initially mined in 2009 and consolidated into the wallet in 2011. The movement may signal turnover, a potential sale, or simply testing activity.
A major narrative this year has focused on selling pressure from early “OG” holders, who began moving or selling their bitcoin after reaching the symbolic $100,000 mark.
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 a first whale, inactive since 2011, sold the entire reserve, using Galaxy Digital as a broker.
Some analysts also point to growing concerns about quantum computing and its potential threat to early Bitcoin addresses, which could explain the movement of older coins.
Nicholas Gregory, director of Bitcoin OG and Fragrant Board, spoke to CoinDesk about the potential threat of quantum attacks.
“It is true that OG holders have sold; however, coins from this era (2011) may be vulnerable to possible quantum attacks if their public keys have been exposed (as is the case with early P2PK addresses or reused P2PKH addresses),” he said.
“This could be a preventative measure to move coins to new, unexposed addresses that would be better protected against such quantum hacks.”
