A total of 28.46 bitcoin that had not moved for more than 15 years since June 2011 was transferred on Oct. 7.

U.Today, a blockchain media outlet, reported on Oct. 7 that the holdings are now worth $2.43 million, and on-chain tracking showed signs the coins flowed into Kraken.

Galaxy Research said in a post on X, formerly Twitter, that the bitcoin moved in block 970281. The UTXO (unspent transaction output) was first received on June 12, 2011 and went unused for about 15 years. A UTXO refers to a unit of bitcoin that has been received but not yet spent.

Based on tracking data, the purchase price was about $15 per bitcoin. Galaxy Research estimated realised profit and loss at $2.44 million, with a return of 582,198 percent.

The address used in the transaction was 1EmiMJfyBYNYfeFZWEoXxJ9cZ7pF9xTWVt. Sender information was not identified in the database, but the recipient was classified as Kraken. This drew market attention to the possibility that long-held coins were moved to an exchange.

The transfer drew attention because the bitcoin dates to just after the period when Satoshi Nakamoto was active in the community from 2010 to early 2011. Satoshi Nakamoto, known as the creator of bitcoin, left the market after saying in a final email in April 2011, "I have moved on to other things."

Market conditions were also weak. Bitcoin at one point fell 3.68 percent over 24 hours to $83,081. Across the broader cryptocurrency market, $671.8 million in positions were liquidated, with long liquidations accounting for most of the total at $541.14 million. Short liquidations were $66.22 million.

Investors are watching for the release of minutes from the Federal Open Market Committee (FOMC). This is seen as reflecting that the U.S. Federal Reserve's monetary policy decisions can affect risk assets broadly. At its September meeting, policymakers decided to raise rates for the first time since 2023, and traders are pricing in a 78 percent chance of rates being held at the next meeting.

It has not been confirmed whether the transfer to an exchange led to an actual sale. With the market weak and long-dormant holdings also moving, attention is focused on the possibility of additional selling. Whether the holdings are disposed of and whether similar long-held coins move again are expected to be key points to watch.

AWAKENED — dormant 15+ years 28.46 BTC ($2.43M) of UTXOs untouched since first received 2011-06-12 (15.2y ago) — just moved in block 970281 Address: 1EmiMJfyBYNYfeFZWEoXxJ9cZ7pF9xTWVt Sender Attribution: none in our DB Recipient Attribution: Kraken Realized PnL: +$2.44M (+582,198% gain) - basis ~$15 avg - held 15.2y 2026-10-07 03:33 UTC TXID: 30f99aba54cee38157c9c1d4ceafded4eb914d79ced89bb347efef137c02dd84 https://t.co/vwRZDpco2L