Dormant Bitcoin Whale Moves $4.7 Billion in BTC After 14 Years
A long-dormant Bitcoin whale from the Satoshi era has transferred more than $4.7 billion worth of Bitcoin to a new wallet, marking the second significant move in recent days after a similar-sized transfer to Galaxy Digital earlier this week.
According to blockchain analytics platform Lookonchain, the whale moved 40,192 BTC on Thursday, reigniting speculation about potential large-scale profit-taking activity amid Bitcoin’s recent all-time highs.
The Bitcoin OG with 80,009 $BTC($9.46B) just transferred another 40,192 $BTC($4.77B) to a new wallet bc1qs4 and may continue to sell.https://t.co/EUM3WzP46nhttps://t.co/UjX7fBpbv7 pic.twitter.com/EEdS5eEZod
— Lookonchain (@lookonchain) July 17, 2025
Second Transfer in Days from a $9.5 Billion Whale
Lookonchain, which has been closely tracking the movements of this whale, noted that the first major transaction occurred on Tuesday when 40,009 BTC were transferred to Galaxy Digital, a leading crypto asset manager.
Blockchain intelligence firm Nansen confirmed that Galaxy Digital promptly moved 6,000 BTC to major exchanges Binance and Bybit, suggesting the intention to sell.
The latest transfer brings the total BTC moved by the whale this week to over 80,000 BTC, worth roughly $9.5 billion, representing one of the largest movements of dormant Bitcoin in history.
A Whale From Bitcoin’s Genesis Days
This Bitcoin whale is no ordinary holder. Its addresses were originally funded between April and May 2011, when Bitcoin was trading for as little as $0.78 to $3.37.
The eight wallets associated with the whale received BTC in two batches:
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20,000 BTC were received on April 2, 2011, just days after Satoshi Nakamoto’s last known communication.
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The remaining 60,009 BTC were received on May 4, 2011.
The assets remained untouched for over 14 years, making this event particularly notable for blockchain historians and market analysts alike. Many speculate that these wallets could belong to an early miner, developer, or someone with close ties to the original Bitcoin community.
Market Implications: Profit-Taking or Strategic Move?
The massive transfer comes just as Bitcoin recently crossed a new all-time high of $122,000 on Monday. Some analysts, including CryptoQuant’s Crazzyblockk, have suggested that the recent price retreat could be partly attributed to large holders taking profits after the rally.
While the new wallet holding the 40,192 BTC has not yet made any moves to exchanges, Lookonchain warned that the whale “may continue to sell.”
If these assets do begin entering exchanges, it could place downward pressure on BTC price in the short term, especially if other long-term holders follow suit.
Other Whales on the Move
In addition to the massive 80K BTC whale, a smaller Bitcoin whale also reawakened this week. This wallet, dormant for six years, transferred out 1,042 BTC (approximately $123 million) to a new address.
Lookonchain noted that this mini whale had originally received its BTC from Braiins Mining and Xapo Bank at a time when Bitcoin was valued at $8,746, meaning the holdings were originally worth around $9.1 million.
These moves suggest that older holders may be re-evaluating their positions amid heightened market activity and institutional involvement.
Not All Whales Are Selling
Despite the recent activity, not all prominent Bitcoin whales are moving their coins. The largest Bitcoin holder, widely believed to be Satoshi Nakamoto, continues to hold 1.096 million BTC untouched in thousands of wallets.
Other notable long-term holders include:
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The Winklevoss Twins, founders of Gemini, who hold an estimated 70,000 BTC.
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Tim Draper, who acquired 30,000 BTC at a 2014 U.S. Marshals auction.
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Michael Saylor, co-founder of Strategy, who personally owns 17,732 BTC, in addition to the company’s massive corporate treasury of nearly 600,000 BTC.
These entities, considered Bitcoin maximalists, have not shown any intent to liquidate their holdings, reinforcing a long-term bullish sentiment despite short-term fluctuations.
Conclusion
The awakening of Satoshi-era Bitcoin wallets underscores the importance of whale activity in today’s maturing cryptocurrency market. While it remains uncertain whether the recent transfers represent mere wallet consolidation or impending liquidation, market participants are closely monitoring blockchain movements for further signals.
With Bitcoin’s price at historic levels and institutional demand surging, these ancient coins entering circulation could introduce volatility, but also highlight the resilience and longevity of Bitcoin as a store of value.
