TL;DR
- 1,000 2013 holders sold $BTC Worth about $71.6 million, Owen Ganden sold an additional $650 $BTC The market value is approximately $46.3 million.
- 3,500 of 5,000 2013 wallets are currently sold. $BTC This suggests a planned relaxation rather than a sudden and complete withdrawal over time.
- The report views this move as generational profit-taking that could put upside pressure, while also indicating that Bitcoin could absorb repeated OG distributions.
The dormant Bitcoin supply is starting to move again, and the timing is causing anxiety across the market. What is now resurfacing is old supply from Bitcoin’s early days, rather than the usual selling pressure. According to the report, holders who saved $5,000 in 2013 $BTC Average price was around $332 and 1,000 more sold $BTC Worth about $71.6 million, Owen Ganden sold an additional 650 units. $BTC Worth approximately $46.3 million. Taken together, these transactions suggest that some of the oldest wallets on the market are converting paper wealth into realized profits rather than remaining at this stage of the cycle.
5K of #BitcoinOG $BTC($356 million) 1,000 more units sold $BTC($71.57 million) 8 hours ago.
This OG received 5,000 $BTC(Price: $1.66 million) Launched 12 years ago for $332 $BTC November 26, 2024, total 3,500 pieces sold $BTC($337 million) to $96,262.
Total profit: $442 million — 266x return. … pic.twitter.com/oErv0KccjN
— Lookonchain (@lookonchain) March 19, 2026
Why is the market watching these old wallets so closely?
The first wallet tells a revealing story. This is not a sudden capitulation, but rather a disciplined release from one of Bitcoin’s cheapest positions. Sources say the holder started selling on November 26, 2024 and has now transferred 3,500 shares. $BTC The average sale price was approximately $96,262, and it was sold for approximately $337 million. Even after the latest move, the wallet reportedly still has $1,500 in it $BTC Worth $106.8 million. This is important because stable legacy distributions can weigh on upside over time, even though there is typically no shock effect for traders from a single liquidation event.
Gunden’s sale added to the anxiety as the market treated his early exit as complete. fresh 650 $BTC The move suggests the high-profile whale distribution saga may not end as neatly as traders assume. Lookonchain reportedly pegged this sale at approximately $46.3 million, after previously closing a much larger $11,000 sale. $BTC Approximately $1.12 billion worth of liquidations. The report notes that Gunden’s transactions carry symbolic weight, as he is considered a key figure in Bitcoin and his wallet activity is read as a signal of how some of the cryptocurrency’s initial capital is being redeployed.
The broader takeaway is more nuanced than the bearish headline. These transfers look like intergenerational profit-taking, but they also show how modern liquidity is absorbing old supplies. The report argues that coins that were accumulated before the introduction of institutional ETFs, treasury strategies, and current exchange infrastructure are now being redistributed into completely different market structures. That doesn’t mean sales are meaningless. Conversely, reinvigorating dormant low costs $BTC remains one of the clearest windows into cyclical behavior. But it also suggests that Bitcoin is operating deep enough to repeatedly accept the OG distribution without structural disruption.
