Bitcoin Wallets Move 80,000 BTC from Satoshi Era

Eight dormant Bitcoin wallets, dating back to April and May 2011, recently transferred 80,000 BTC on July 4, 2025, sparking speculation and concern in the cryptocurrency community.

The event underscores concerns over Bitcoin’s dormant supply and possibly indicates involvement from early adopters or risks of compromised security keys.

Bitcoin Transfer Details

The movement involved eight Bitcoin wallets, all inactive since 2011, which moved a total of 80,000 BTC worth $8.6 billion.
Conor Grogan, Head of Product at Coinbase, noted the anomaly on July 4 and speculated about potential hacking activity.

Arkham Intelligence, an on-chain analytics firm, identified the transfer, highlighting the coordinated movement from multiple wallets.
They stated, “The simultaneous movement of over 10,000 BTC each from multiple wallets marks the event as highly unusual,” which emphasized the peculiarity of the event.
The institutions haven’t observed transfers to exchanges but found new wallet creations in lower-fee formats.

Market Reactions

The Bitcoin price fell from approximately $110,000 to $107,600, causing a 1.3% drop as traders reacted.
The absence of exchanges and sales limited further market disruption.

No official statements have been released by U.S. regulators at this time. Community discussions have centered around possible scenarios of
ownership by Satoshi-era miners, early investors, or cases of unauthorized access to private keys.

Community Insights

Experts indicate that such a significant move, absent of sales, suggests strategic repositioning rather than immediate financial gain.
According to Conor Grogan,
“Extremely odd and a small possibility that the transfer was a hack … would be largest heist in human history if true.
The owner might have been trying to discreetly test the private key.” Observers are watching for further activity to assess ongoing market impacts.