2016 Bitcoin Wallet Moves 1,260 BTC As Dozens Of Casascius Coins Are Redeemed

A long-quiet Bitcoin address that first received coins in mid-2016 moved more than a thousand coins in a single transaction, while holders of early physical Bitcoin collectibles also began unlocking a cluster of coins after years of inactivity.

The sending wallet used the older P2PKH format and transferred 1,260.77 BTC at block height 965770.

The coins went to a new P2WPKH address that had no prior history.

On-chain records show the originating address was funded on July 9, 2016, when Bitcoin closed near $650.

At that price the holding was worth about $819,500.

At recent prices near $79,700 the same stack exceeds $100 million, representing a gain of more than 11,300 percent.

The move followed other transfers from even older 2010-era wallets that had also become active days earlier.

Together the transactions add older coins back into circulating supply after a period of relative quiet.

Separately, collectors have been opening Casascius physical bitcoins.

These brass, silver, and gold-plated coins and bars were produced by Mike Caldwell from 2011 to 2013 and contain a private key sealed under a holographic sticker.

Peeling the sticker reveals the key so the embedded Bitcoin can be spent on-chain.