Greater than $8 billion value of Bitcoin mined through the cryptocurrency’s earliest days, referred to as the “Satoshi period,” was transferred on Friday within the largest such switch ever recorded.
Eight wallets that had been dormant since 2011 moved 10,000 BTC to new SegWit addresses on Friday, greater than 14 years after receiving the BTC. The id of the wallets is unknown, together with their possession.
The incident has triggered hypothesis and curiosity within the crypto neighborhood. Coinbase director Conor Grogan, who goes by “Connor” on X, has just lately reacted to a rumor surrounding one of many mysterious addresses that had shifted 10,000 Bitcoin.
An X person claimed that one of many wallets that moved 10,000 BTC (value over $1 billion) was talked about on a discussion board in 2013. The person even posted a screenshot of the outdated discussion board put up, alleging that somebody had as soon as despatched 1.5 BTC to a pal utilizing the identical pockets tackle.
Grogan, nevertheless, was fast to reply, calling the declare pretend. “Man made it up,” Grogan posted on X. “There was by no means a 1.5 BTC transaction to or from the tackle.”
Man made it up, there was by no means a 1.5 btc transaction to or from the tackle pic.twitter.com/kOMYF7kzqs
— Conor (@jconorgrogan) July 5, 2025
The Coinbase director shared a screenshot of blockchain information that helps this assertion, indicating that no such transaction ever occurred with the tackle.
New replace emerges
On Friday, eight Bitcoin wallets shifted 10,000 BTC every, for a complete of 80,000 BTC, or $8.6 billion, drawing consideration from the crypto neighborhood. The moved cash belong to the rarest class of BTC: mined or transacted through the “Satoshi period,” which lasted from the launch of Bitcoin in 2009 to 2011, when its pseudonymous founder was nonetheless lively on-line.
On-chain intelligence platform, Arkham, speculated that each one the wallets look like owned by the identical entity. Nevertheless, no particular person or firm has publicly claimed possession of the wallets.
Arkham just lately tweeted an replace on the state of affairs, placing to relaxation hypothesis {that a} Bitcoin OG whale was promoting; “$8 billion transfers have been probably associated to deal with upgrades, transferring from 1- addresses to bc1q-addresses. There are not any indications that this whale is promoting Bitcoin,” Arkham said.
