Bitcoin Whale Breaks 13-Year Silence, Moves $33 Million To Exchange

Christian Encila

Last Updated: October 13, 2025 8:00 pm

3 mins read

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A long-dormant Bitcoin stash moved into an exchange this week, renewing worries about old coins re-entering the market and the effect that could have on prices.

Mt. Gox Origins And Staggering Returns

According to blockchain tracker Lookonchain, a cluster of addresses tied to coins pulled from Mt. Gox more than 13 years ago sent 300 BTC to Binance in a single transaction.

Those coins were reportedly bought at about $11 each, meaning the original outlay was roughly $8,151. The transfer is now worth about $33.47 million, a mark-up of roughly 410,624%. Reports have disclosed that about 590 BTC still remain in the same group of addresses.

The market crash just woke up a sleeping Bitcoin OG, who deposited 300 #BTC($33.47M) to #Binance 2 hours ago.

He originally withdrew 749 $BTC($8,151 at the time) from #MtGox 13 years ago, when $BTC was just $11.

He moved 159 $BTC to a new wallet a year ago but didn’t sell —… pic.twitter.com/tSxgO0Mw5E

— Lookonchain (@lookonchain) October 12, 2025

Wallet Activity And What Changed

Last year, the same owner moved 159 BTC into a new wallet and then left it untouched. This recent move is different because the coins arrived in an exchange hot wallet, where they can be sold quickly.

Traders and market watchers noted the difference: one action kept coins on the chain, the other put them within reach of an order book. Whether the owner chooses to sell some or all of the 300 BTC is not known, but the presence of those funds on Binance makes rapid selling possible.

Market Moves And Flows

Bitcoin’s price recovered to about $115,000 on Monday, after dipping to $102,000 on Friday. That drop triggered billions in liquidations and left traders on edge.

Based on figures, ETFs recorded $2.7 billion in inflows over the last week, and institutional demand showed resilience despite the volatility. Still, the market’s calm is fragile; a large sell order from an old holder could change short-term supply dynamics quickly.

BTCUSD now trading at $114,199. Chart: TradingView

The move was flagged by on-chain analysts and then amplified across social platforms. Exchange inflows from wallets tied to early-era miners or Mt. Gox addresses tend to draw attention because they signal supply that was previously dormant coming back into circulation. In this case, the numbers are large enough to get traders’ attention.

Possible Scenarios And Risks

If some of the 300 BTC is sold, price pressure may increase, particularly during thin trading windows. Alternatively, the transfer could be part of estate consolidation or a decision to move funds to cold storage, in which case selling may not follow.

Market participants will watch wallet behavior closely: rapid withdrawals to multiple exchange addresses, for example, would likely be interpreted as a selling sign.

Featured image from Gemini, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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