Substantial Transfer of Ancient Bitcoin Worth $8 Billion Identified as Largest Daily Migration in Cryptocurrency History
In a shocking turn of events, an unidentified entity, believed to be one of the earliest participants in the Bitcoin network, has moved over 80,000 BTC, worth approximately $8.6 billion, stirring up speculation in the cryptocurrency world. This massive movement, which occurred on July 4, 2025, marks the largest daily transfer of coins aged 10 years or more in history [1][3][5].
The eight wallets involved in this transfer have been dormant since 2011, holding what is known as "Satoshi-era" Bitcoin, mined around 14 years ago. These coins initially entered the wallets in early 2011, confirming the holder's status as an early miner or one of Bitcoin's earliest participants [1][3][5].
The entity behind this transfer is a single, unidentified holder, whose identity remains a mystery. The wallets transferred the entire amount to new wallets using a newer address format, according to blockchain analytics firm Arkham Intelligence, who confirmed that all these wallets belong to the same single entity [1][3][5].
However, the nature of this transfer has raised eyebrows. Some experts suspect a possible heist due to the unusual nature of the transfers after many years of inactivity. Coinbase’s head of product, Conor Grogan, suggested the possibility of a large-scale crypto heist, citing a suspicious test transaction on the Bitcoin Cash (BCH) network before the BTC moves. This test was likely to confirm access to private keys quietly, which might hint the BTC was compromised rather than voluntarily moved by the original owner [2][3].
In the world of crypto, a Bitcoin whale is defined as an entity holding 1,000 BTC or more, equivalent to $108 million at today's prices. The Bitcoin whale's final 10K wallet was moved, containing $1.1 billion in Bitcoin [1][3][5].
As Bitcoin whales start moving their coins after years of "HODLing," markets tend to move as investors expect imminent selling and therefore downward price action. At the time of writing, the leading cryptocurrency is about 4% down from its record high of $111,814 set in May. Bitcoin was trading for $107,895 per coin, according to CoinGecko, after dropping by nearly 2% over a 24-hour period [1][3][5].
J.A. Maartun, a crypto analyst for CryptoQuant, stated that the entity linked to the Bitcoin addresses which made transactions on July 4 has held approximately 200,000 BTC at one point. Julio Moreno, head of research at CryptoQuant, made this statement [1][3].
Experts suggest that whales are not always individual investors but also companies that got involved in mining crypto early. As investigations continue, the true nature of this historic transfer remains under scrutiny, adding another intriguing chapter to the evolving story of Bitcoin and its early adopters.
- The unidentified entity, a Bitcoin whale, moved 80,000 BTC from wallets mined around 14 years ago in the early days of cryptocurrency, worth approximately $8.6 billion.
- These wallets, dormant since 2011, held "Satoshi-era" Bitcoin, and the transfers were verified by blockchain analytics firm Arkham Intelligence.
- The Bitcoin whale transferred the coins to new wallets using a newer address format, but the nature of this movement has triggered speculation, including the possibility of a heist.
- Conor Grogan, head of product at Coinbase, suggested that this could be a large-scale crypto heist, citing a suspicious test transaction on the Bitcoin Cash (BCH) network before the BTC moves.
- In the world of cryptocurrency, this Bitcoin whale holds an estimated 200,000 BTC or $2.2 trillion at today's prices, according to J.A. Maartun, a crypto analyst for CryptoQuant.
- The cryptocurrency market tends to react when Bitcoin whales move their coins after years of "HODLing," and the Bitcoin price dropped about 4% from its record high of $111,814 following this transfer.
- Experts speculate that this Bitcoin whale could be a company involved in mining crypto early, rather than an individual investor.
- The true nature of this historic transfer, one of the largest in Bitcoin history, is under investigation, adding another intriguing chapter to the story of Bitcoin and its early adopters in the financial and technological landscape.
