A Bitcoin wallet created in 2016 transferred 1,260.77 BTC worth over $100 million at block height 965770, while nearly 75 Casascius physical coins were peeled in the first six days of September, adding to a wave of vintage supply mobilization.
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Bitcoin whale shifts 1,260 BTC as 75 Casascius coins get peeled
A 2016 Bitcoin wallet moved 1,260.77 BTC, worth over $100 million, to an unknown address at block height 965770 on Sept. 6.
Galaxy Research flagged the broader vintage-coin activity on X, writing that "someone redeemed and swept 21 Casascius coins in the last hour," while on-chain analyst Sani from Timechainindex.com reported "900 BTC in Early Mining Rewards + 41 Casascius Coins Move Onchain."
The wallet was created on July 9, 2016, when BTC closed at $650, making the original stash worth $819,500.50. At the current price near $79,733, the cache has appreciated 11,366.15%. The funds moved from a Pay-to-Public-Key-Hash (P2PKH) address to a Pay-to-Witness-Public-Key-Hash (P2WPKH) address, according to btcparser.com.
The transfer follows a Sept. 5 move of 600 BTC from dormant Satoshi-era (2010) wallets and comes as Bitcoin trades near $79,733, down from the $82,000 resistance zone it tested earlier in the week. The market must now absorb a growing volume of vintage supply as traders assess whether these movements signal distribution or wallet consolidation.
Casascius Redemptions Accelerate in Early September
Casascius holders have been peeling physical 1 BTC coins at an elevated pace. Bitcoin.com News counted nearly 75 redemptions of series one 1 BTC coins during the first six days of September, according to the Casascius explorer hosted on wickedsmartbitcoin.com. On Sept. 3, 14 coins were peeled, followed by roughly 15 the next day. Sept. 5 saw 40 redemptions — the day Galaxy Research posted about the 21-coin sweep — and three more were peeled on Sept. 6.
Casascius coins are physical brass, silver, or gold-plated tokens minted by Mike Caldwell between 2011 and 2013, each loaded with digital BTC ranging from a tenth of a coin up to 1,000 BTC. "Peeling" refers to removing the holographic sticker to access the private key and spend the loaded BTC.
What the Vintage Supply Wave Means for Price
The combination of the 1,260.77 BTC whale transfer, the 600 BTC Satoshi-era move, and the Casascius redemptions represents a meaningful uptick in dormant supply hitting the market. Bitcoin traded between $76,000 and $82,000 this past week, with the $82,000 level acting as resistance. The Crypto Fear and Greed Index sits at 73 (Greed), up from 30 last week.
Vintage holders cashing out could suggest some believe Bitcoin's upside is limited at current levels. However, the whale transfer went to an unknown P2WPKH address rather than a known exchange wallet, which could indicate wallet consolidation or cold storage relocation rather than imminent distribution. The destination of these funds will determine whether this supply wave translates into selling pressure or simply represents a change in custody.
This article is for informational purposes only and does not constitute investment advice.
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