A bitcoin wallet that has been inactive for more than a decade transferred its entire stack of 687.33 BTC — worth over $44 million — early this morning.

The wallet in question originally received the bitcoins on Jan. 12, 2014, on-chain monitoring platform Lookonchain noted on X. At that time, the price of one bitcoin was $917.

The reason for the transfer remains unknown, as does the identity of the wallet's ownership.

Recent bitcoin whale movements

Other notable bitcoin transfers have occurred in recent months.

In March, an address  — the fifth richest on the Bitcoin blockchain — that had been dormant since 2019 moved $6 billion. An entity also combined $140 million in bitcoins mined in 2010 into a single wallet that same month.

In January, nearly 50,000 dormant bitcoins woke up