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Bitcoin Wallet From 2011 Transfers Billions in BTC
Bitcoin Wallet – A Bitcoin (BTC) wallet holding over 80,000 BTC—untouched for more than 14 years—has suddenly stirred, sending waves through the crypto market. The wallet’s owner began liquidating 20,000 BTC valued at roughly $2.4 billion, while transferring billions more to institutional custodian Galaxy Digital.
Ancient Coins Move After 14 Years of Silence
The dormant wallet dates back to Bitcoin’s earliest days, with eight known addresses controlled by this Bitcoin pioneer. Two addresses received 20,000 BTC on April 2, 2011, and six more picked up 60,009 BTC on May 4, 2011.
On July 4, 2025, four of these addresses awoke, moving 40,000 BTC. Hours later, others moved an additional 20,000 BTC to a new location. Then, on July 14, the whale transferred another 40,009 BTC worth about $4.68 billion to Galaxy Digital. Some of these funds were funneled to major exchanges like Binance and Bybit, confirming active selling rather than mere wallet reshuffling.
Echoes of Mt. Gox: Market Reaction and Differences
Crypto analysts drew parallels to the Mt. Gox trustee wallet reactivations in 2024, which caused Bitcoin to plunge 31% over weeks, taking months to recover. The massive volume, long dormancy, and timing near an all-time high (ATH) raise similar concerns today.
Yet, unlike Mt. Gox, this sell-off is professionally managed via Galaxy Digital, signaling a more controlled market impact. Investor Daan Crypto Trades notes that fears often spike prematurely in such scenarios and may ease before significant selling ends.
Bitcoin’s Price Performance Amid Whale Moves
Bitcoin recently hit a new ATH above $123,000 but pulled back to around $117,500 at the time of reporting—a modest 4% dip. This interrupts an otherwise strong rally, with Bitcoin gaining 7.5% weekly and over 11% monthly.
With an estimated $9.46 billion worth of BTC potentially on the move, the market is watching closely to see if institutional demand can absorb this supply without causing major disruption. The whale’s activity underscores the ongoing balancing act between Bitcoin’s growing institutionalization and its notorious price volatility.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
