Satoshi-era Bitcoin whale makes test transaction after 14 years
A long-dormant Bitcoin wallet linked to the Satoshi era became active after nearly 14 years, initiating a small test transfer from a holding of 2,100 Bitcoin, now valued at roughly $148 million at current market prices.
Data from mempool.space indicates that about $47 worth of Bitcoin (BTC) was sent from the address “1NB3Z…QB6ZX” to a new address on Friday at 10:27 am UTC.
The wallet had not moved funds since July 2012, when 2,100 BTC were acquired at approximately $6.5 per coin for a total of about $13,685, according to Whale Alert, placing the position up more than 1,000,000% since 2012.
The small transfer does not necessarily signal an intention to sell. Large holders frequently perform nominal transactions to verify access to their keys. Market participants nevertheless monitor whale activity closely due to its potential impact on short-term liquidity and sentiment.
Whale activity has previously added to sell-side pressure
Bitwise Chief Investment Officer Matt Hougan said in November that activity from Satoshi-era wallets contributed to Bitcoin’s inability to recover following the Oct. 10 flash crash, when prices fell from over $120,000 to around $102,000 after nearly $19 billion in leveraged positions were liquidated. Hougan said “crypto-native retail” and early investors have limited upside through large-scale selling, hindering a sustained rebound.
In one of 2025’s larger Satoshi-era moves, 80,000 BTC—valued at $4.6 billion at the time—were transferred to Galaxy Digital in July. Transactions of that magnitude to market makers and liquidity providers are typical when large holders are preparing to offload positions.
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