$1B in Bitcoin moves from Satoshi-era wallet after 14 years of inactivity

More than $1 billion in BTC was moved from a long-dormant “Satoshi era” wallet, reactivated just as Bitcoin edges toward a new all-time high.

According to blockchain analytics platform Spot On Chain, the wallet moved 10,000 BTC, valued at approximately $1.09 billion, to a new address after lying untouched for 14.3 years.

On-chain records indicate that the BTC was originally acquired on April 3, 2011, for just $109,246, translating to an average acquisition price of $0.78 per coin. As such, the whale is looking at returns of over 140,000x on the initial investment.

While the exact motivations behind the massive transfer remain unclear, it comes at a time when Bitcoin (BTC) appears poised to reach a new all-time high, with analysts anticipating the milestone could be hit by the end of this week. Currently priced at $109,100, the leading cryptocurrency is just less than 3% away from surpassing its previous high.

Such movements often precede selling activity, as large investors tend to accumulate at lows and realise gains near highs. It’s possible that the whale may be moving funds from a cold wallet to an exchange or a hot wallet.

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