Satoshi-era bitcoin wallets transferred over $ 1 billion each after 14 years of inactivity

Two bitcoin wallets that had not been used for more than 14 years suddenly made large transfers, moving 10,000 BTC BTC $108,182.52 Bitcoin 0.38% Market capitalization $2.15 trillion VOL. 24 hours $0.86 billion each — at the current exchange rate, that’s more than $ 1 billion for each wallet. These bitcoins were received back in April 2011, when their value was only $ 0.78 per coin. The activity was recorded by analysts of the Lookonchain platform.

At the moment, the price of bitcoin is about $ 109,000. It is noted that this is not the first case of significant volumes being transferred from the so-called «satoshi-era» wallets — owners who received their assets at an early stage of the network’s existence. Analysts point out that such activity indicates a change in the balance of power among large owners: the old «whales» are selling their assets or exchanging them for shares.

According to Bloomberg and 10x Research, over the past year, large bitcoin holders have withdrawn more than $ 50 billion in bitcoin. Among them are miners, hedge funds, and firms from tax-friendly jurisdictions. The massive exodus of such players partly explains why the bitcoin market is showing restrained growth even with the inflow of investments in exchange products and increased institutional interest.

Such large transactions add additional volatility to the market, and the anonymity of the owners only increases interest in the origin and future fate of these funds. Analysts emphasize that the behavior of such wallets can affect the overall market sentiment and shape new trends in the distribution of capital between cryptocurrencies and traditional financial instruments.