🚨 Bitcoin whale from 2011 moves up to US$ 8.7 billion in on-chain transactions

On-chain analyses reveal that an address active since 2011, originally holding 80,009 BTC, initiated a series of historic transfers in July 2025, generating shockwaves in the market.

🌐 On-chain context

On July 4, 2025, two wallets created in April 2011 moved a total of 20,000 BTC (about US$ 2.34 billion) to new addresses, marking the largest known shift in foundational addresses up to that point. Hours later, three more wallets from May 2011 transferred an additional 30,000 BTC (approximately US$ 3.5 billion) to settlement platforms, along with 30,009 BTC relocated to custody wallets, totaling 80,009 BTC (US$ 8.69 billion) mobilized by the so-called “2011 whale.”

🪙 Movements and destinations

Of this amount, at least 40,000 BTC were sent directly to exchanges such as Galaxy Digital and Binance, suggesting an intention to realize immediate profits, while the remainder was migrated to modern SegWit wallets, possibly for technical security reasons.

📈 Price impact

The transfers triggered a slight sell-off, with BTC retreating from US$ 118,000 to US$ 112,000 within 24 hours, reflecting the sudden supply pressure in the order book. On-chain indicators also showed a drop in the long-term holder index, signaling the realization of historic profits.

🔍 Possible motivations

Experts suggest that the holder is looking to realize some profits after an appreciation of over 14,000,000% since 2011, or that it is a security upgrade via SegWit migration to reduce fees and risks associated with old addresses.

⚠️ Outlook and risks

If these 40,000 BTC dumped reach the order book with aggressive orders, the market may experience corrections of up to 10% in the short term.