20,000 BTC Worth $2.18 Billion Moved After 14 Years

On July 4, two Bitcoin wallets that had been inactive for 14 years transferred a combined total of 20,000 BTC, valued at approximately $2.18 billion. The transactions originated from separate addresses that had held 10,000 BTC each since April 3, 2011, when the price of Bitcoin was roughly $0.78 per coin. The analytics account Lookonchain first identified these on-chain movements, which involved two separate transfers of 10,000 BTC occurring within minutes of each other.

Blockchain data confirms that both wallets, 12tLs9c9RsALt4ockxa1hB4iTCTSsmxj and 1KbxrSKrT3GeETuuYUSQ35JwkbrAw, were funded on the same day from a single source address, indicating a common owner. The original acquisition cost for the total 20,000 BTC was approximately $15,610, representing a return of about 140,000 times the initial investment, or around 14 million percent.

This event involves the movement of capital from the network’s earliest days, a period often referred to as the “Satoshi era.” While such transfers can create apprehension in the market about a large volume of coins being sold, the nature of these specific transactions adds more texture to the event. One block of 10,000 BTC was sent to a legacy Pay-to-Public-Key-Hash (P2PKH) address, while the other was directed to a modern Bech32 SegWit address. The use of different address types could be interpreted as a sophisticated holder managing assets rather than a straightforward liquidation.

The movement represents a consolidation of a vast, long-dormant fortune, and a transfer is distinct from a sale on an exchange. However, it is possible that an OTC trade is being prepared. The 20,000 BTC now resides in two new addresses, with the owner’s ultimate intentions for the capital yet to be revealed through further on-chain action.

This event highlights the potential for significant gains from early investments in Bitcoin. The holder of these wallets stands to gain an astronomical return on their investment, underscoring the volatility and potential rewards of the cryptocurrency market. The transfer of such a large amount of Bitcoin from wallets that have been dormant for over a decade also raises questions about the intentions of the holder and the potential impact on the market. The use of different address types suggests a strategic approach to managing the assets, rather than a simple liquidation. The ultimate destination and use of these funds remain unknown, but the transfer marks a significant event in the history of Bitcoin.