Two Whales Who Bought Bitcoin at $178 Wake Up: Holdings Up Nearly 480-Fold!

The wallets of two early investors who bought Bitcoin at an average price of $178 about 13 years ago became active years later with small test transfers, as the value of their combined holdings reached $115 million.

According to Lookonchain, the two investors spent about $240,000 at the time for a total of 1,346 BTC. At the time of the post, these Bitcoin holdings are valued at about $115 million; compared with the initial amount, they have grown nearly 480-fold.

From million-dollar holdings to $43 test transfers

The new transfers represent only a tiny fraction of the total. One wallet sent 0.000505 BTC, and the other sent 0.0005 BTC. Screenshots show these transactions were worth $43.08 and $42.62, respectively.

Lookonchain described both movements as test transactions. What stands out is not the amount transferred, but that early wallets that had been quiet for years are transacting again.

Purchase history stretches back 13 years

The transaction records shared show Bitcoin arriving in the first wallet 12–13 years ago. The second wallet also shows deposits from 13 years ago, as well as an outgoing transfer of about 1 BTC made eight years ago. Therefore, 13 years refers to the purchase history; it does not mean both addresses had been inactive for 13 straight years.

The new transactions do not show that the entire $115 million holding has been moved or sold. For now, the activity is limited to two small transfers.