Eight early Bitcoin wallets from the so‑called “Satoshi era” (2009–2011) that had been dormant for over 14 years suddenly transferred 10,000 BTC each—totaling about 80,000 BTC, worth over $8 billion—into fresh SegWit-format addresses on July 4–5, 2025 .
Key details:
Largest-ever Satoshi-era transfer: This is the biggest movement of coins mined during Bitcoin’s earliest days .
Dormant wallets reactivated: Two wallets last used in April 2011 each moved 10,000 BTC. Six more did the same, likely controlled by the same entity .
Potential pre‑transfer testing: On-chain trackers flagged an odd Bitcoin Cash (BCH) transfer—over 10,000 BCH—just before these BTC moves. Coinbase’s Conor Grogan speculated it might have been a private-key test to confirm access .
Funds haven't reached exchanges: All Bitcoin remains in non-exchange addresses, suggesting reallocation rather than an immediate sale .
Market response: Bitcoin price briefly dipped ~2%, slipping below $108,000 as traders grew uneasy .
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🔍 What could this mean?
1. Private key confirmation: The BCH test likely served to verify access to deeply dormant wallets before shifting large BTC holdings.
2. Coin consolidation or relocation: The funds moving into modern wallets could indicate reorganization—but without movement to exchanges, this may not be an imminent sell-off.