On July 4, 2025, eight long-inactive Bitcoin wallets suddenly became active, transferring a combined 80,009 BTC—currently valued at about $8.69 billion. These wallets had remained untouched since 2011, sparking renewed interest and speculation across the crypto community.
Who Owns These Coins?
- Two wallets received 20,000 BTC each back on April 2, 2011, when Bitcoin was priced at just $0.78. Those coins alone are now worth around $2.18 billion per wallet.
- The remaining six wallets collectively received 60,009 BTC in May 2011, when Bitcoin traded near $3.37, bringing their current value to roughly $6.5 billion.
- Blockchain investigator Lookonchain believes a single early miner could own all eight wallets, citing signs that the BTC stems from around 180 mined reward blocks.
Movement Patterns & Market Impact
- The coins were moved to new, unidentified addresses—not directly to exchanges. This suggests a possible consolidation rather than a rush to sell.
- Notably, two wallets transferred 40,000 BTC on July 4, with the rest having moved earlier. All movements now total 80,009 BTC.
- Following the transfers, Bitcoin’s price dipped slightly—from $110,000 to around $107,600—reflecting a 1–2% drop amid concerns of potential selling pressure.
Speculation is swirling about the identity of the wallet owner. Some wonder if this could be linked to early figures like Satoshi Nakamoto or Ross Ulbricht, but no evidence supports these theories.
List of Wallets
- 1KbrSKrT3GeEruTuuYYUSQ35JwKbrAWJYm
- 12tLs9c9RsALt4ockxa1hB4iTCTSmxj2me
- 1P1iThxBH542Gmk1kZNXyji4E4iwpvSbrt
- 1CPaziTqeEixPoSFtJxu74uDGbpEAotZom
- 1f1miYFQWTzdLiCBxtHHnNiW7WAWPUccr
- 1BAFWQhH9pNkz3mZDQ1tWrtKkSHVCkc3fV
- 14YK4mzJGo5NKkNnmVJeuEAQftLt795Gec
- 1ucXXZQSEf4zny2HRwAQKtVpkLPTUKRtt
Expert Analysis and Long-Term Takeaways
- Conor Grogan, an executive at Coinbase, believes a single 2011 miner is responsible, noting that one associated wallet once held up to 200,000 BTC—currently valued at around $22 billion.
- According to CryptoQuant, over 62,800 BTC aged seven years or more were moved in Q1 2025—more than double the volume seen in Q1 2024. This hints at a rising trend in dormant coin activity.
- While such massive, old-wallet movements can alarm traders, most of these coins appear to be headed for over-the-counter (OTC) deals or internal transfers, rather than immediate exchange-based sales.
What It Means for Bitcoin
This rare event could lead to short-term market ripples, but its broader significance lies in what it reveals about Bitcoin’s deep liquidity. As long-dormant coins start to circulate again, market dynamics may shift gradually rather than through sudden shocks—especially if strategic selling through OTC channels continues.
Moreover, institutional confidence remains high, with Bitcoin ETFs reporting record inflows. This strong backing helps offset fears surrounding large whale activity, offering reassurance to both retail and professional investors.
