In light of the recent awakenings of block rewards from 2009, Arkham Intelligence spotted this notable movement of vintage bitcoin. The whale, who mined in Bitcoin’s early days, sent 5 BTC to Kraken, a centralized exchange. “A bitcoin whale holding $77M BTC mined in Bitcoin’s FIRST 2 MONTHS just moved 5 BTC to Kraken,” Arkham revealed on the social platform X.

Arkham further elaborated:

His bitcoin had been mined in 2009, in February and March – 1 MONTH after Bitcoin’s launch.

Just four days ago, 250 BTC was transferred from addresses that held five block rewards from Bitcoin’s early days. These were the oldest 2009 block rewards to be spent in over ten years. By Tuesday, Arkham had outlined the latest whale’s activity spanning several years. “After moving several times from 2011-2014, his bitcoin was then held dormant for almost 10 YEARS straight – during which it increased in value from $474K to over $80M,” Arkham said on X.

The onchain intelligence firm added:

This whale woke up around 3 weeks ago, and has moved 10 Bitcoin to Kraken so far in 3 separate transactions … Why are these early bitcoin whale wallets suddenly waking up?

The unexpected stir from long-inactive bitcoin whales sparks curiosity about what’s driving them. As early adopters dust off their holdings after years of stillness, market watchers are left to ponder whether this points to wider trends or personal strategy adjustments. Whether it’s a rare event or a hint of something bigger on the horizon, the revival of these vintage wallets has onchain analysts paying close attention.

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