A Bitcoin wallet, dormant for over 14 years and linked to the cryptocurrency’s earliest days, has suddenly moved 10,000 BTC, valued at approximately $1.09 billion. This massive transfer comes as Bitcoin (BTC) is on the cusp of reaching a new all-time high.
According to blockchain analytics platform Spot On Chain, the wallet, which had been untouched for 14.3 years, transferred its entire balance to a new address. The Bitcoin was originally acquired on April 3, 2011, for a mere $109,246, translating to an average acquisition price of just $0.78 per coin. This makes the current value a staggering 140,000-fold return on the initial investment.
The exact reasons behind the transfer remain unknown, but it has fueled speculation within the crypto community, especially as Bitcoin is currently trading around $109,100, less than 3% away from surpassing its previous peak. Historically, such large movements often precede selling activity as major investors look to realize gains. The whale may be moving funds from a cold wallet to an exchange or a hot wallet in preparation.
The movement of this “Satoshi era” wallet coincides with broader shifts in sentiment among large Bitcoin holders. On-chain analytics from Sentora indicate that whales holding over 1,000 BTC have gradually reduced their balances in recent weeks. While this distribution could exert short-term selling pressure, Sentora analysts suggest it represents a positive structural shift for the market.
“Rather than signaling weakness, this redistribution reflects a maturing market,” Sentora stated. “Older ‘whale’ coins are dispersing, a dynamic that should ultimately strengthen Bitcoin’s long-term prospects.”
However, data from Glassnode offers a more nuanced perspective. Their “Liveliness” metric, which measures the degree to which BTC holders are spending versus holding, has continued to trend downward. This suggests that unlike previous cycles where profit-taking surged as prices reached new highs, long-term investors are largely maintaining their positions even near peak valuations.
Reinforcing this trend, the total BTC held by long-term holders (those who have held for over 155 days) has reached a record high of 14.7 million coins. Notably, most BTC acquired near the $100,000 breakout threshold remains unmoved, indicating growing conviction and reduced speculative pressure among investors.
