Bitcoin Whale Moves 1,260 BTC, Nearly 75 Casascius Coins Redeemed in Early September

A Pay‑to‑Public‑Key‑Hash (P2PKH) wallet first seen on July 9 2016 transferred 1,260.77 BTC in a single transaction at block height 965770. The coins were sent to a Pay‑to‑Witness‑Public‑Key‑Hash (P2WPKH) address, and the move was identified by btcparser.com.

Scale of the transfer

When the wallet was created, Bitcoin closed the day at roughly $650, valuing the stash at about $819,500. At the current price of $79,733 per BTC, the same 1,260.77 BTC is valued at more than $100 million, representing a gain of over 11,000 % in ten years.

Casascius physical coins see surge in redemptions

Physical 1 BTC Casascius coins—metal tokens minted between 2011 and 2013—have been “peeled,” meaning the holographic sticker is removed and the private key used to spend the embedded Bitcoin. Data from the Casascius explorer on wickedsmartbitcoin.com shows nearly 75 such redemptions in the first six days of September:

• Sept 3: 14 redemptions
• Sept 4: about 15 redemptions
• Sept 5: 40 redemptions (reported by Galaxy Research)
• Sept 6: 3 redemptions

Analysts note that the activity may signal profit‑taking as Bitcoin trades between $76,000 and $82,000.

Implications for the market

The combined movement of vintage Bitcoin and the redemption of physical coins adds notable old supply to the market at a time when price gains have slowed. How the market absorbs this supply could influence short‑term price dynamics.