Key Takeaways
- Two dormant wallets moved 20,000 BTC, worth $2.18 billion, after 14 years.
- The coins were originally bought in 2011 for around $15,610, a 14 million percent gain.
- Transfers went to different address types, indicating sophisticated management rather than an immediate sale.
On July 4, two Bitcoin wallets that had remained inactive since 2011 transferred a combined 20,000 BTC, now valued at approximately $2.18 billion.
The wallets each held 10,000 BTC, originally acquired when bitcoin traded at just $0.78 per coin.
Gains
At the time, the total purchase price for these coins was around $15,610, representing an extraordinary return of roughly 14 million percent.
Blockchain analytics firm Lookonchain flagged the transactions, which involved both wallets moving their funds within minutes of each other.
Blockchain data indicates that both addresses were funded on April 3, 2011, from the same source, suggesting a single owner behind the holdings.
Transfers
One 10,000 BTC transfer was sent to a legacy Pay-to-Public-Key-Hash (P2PKH) address, while the other was directed to a modern Bech32 SegWit address.
This use of different address types points to a sophisticated asset management strategy, rather than an immediate sale.
Satoshi era coins
The event highlights the movement of bitcoin from the so-called “Satoshi era,” when the network was still in its infancy.
Despite concerns that such large transfers may precede a market sell-off, these transactions appear to be consolidations rather than exchange deposits.
The owner’s intentions remain unknown as the 20,000 BTC now reside in two new addresses, awaiting further action.
