Bitcoin Whale Moves 80,000 BTC Worth 8.72 Billion USD

Bitcoin On-chain Sleuth TruthLabs has released a theory on the identity of the individual who moved 80,000 BTC, valued at approximately $8.72 billion. This significant transfer had sparked concern and speculation within the crypto community due to the potential selling pressure it could exert on the leading cryptocurrency.

One theory proposed by TruthLabs suggests that Christian, Olivier Janssens, the son-in-law of the last king of Italy, who began mining Bitcoin just a month after its creation, could be the individual responsible for the transfer. This theory is supported by a previous post by TruthLabs, which provided evidence that an in-law of the last king of Italy was involved in Bitcoin mining shortly after its inception.

The 80,000 BTC in question had been dormant for 14 years, accumulated when BTC was trading at around $0.78. TruthLabs noted that these coins were originally moved from the now-defunct exchange Mt. Gox over a decade ago. The on-chain sleuth also speculated that the transfer of these coins may have been timed to front-run a weather modification event, which was allegedly targeted at a Christian camp. This theory was further supported by remarks from Augustus Doricko, CEO of Rainmaker and Thiel Fellow, who indicated that weather can be weaponized.

Coinbase Director Conor Grogan offered an alternative theory, suggesting that there is a possibility that the $8 billion in BTC that recently became active were the result of hacked or compromised private keys. He cited a Bitcoin Cash (BCH) transfer that occurred in corresponding wallet clusters prior to the BTC transfers, suggesting that this could have been a test by hackers to verify the private keys.

Another on-chain sleuth, Sani, declared with high confidence that the Bitcoin whale responsible for moving the 80,000 BTC is Roger Ver. Sani based this conclusion on his analysis of Ver’s historical purchase activity and cross-referencing those dates with his database of unidentified addresses. He found that six addresses, worth 60,000 BTC, were among the wallets that transferred the 80,000 BTC. Additionally, two other addresses transferred 10,000 BTC each, bringing the total to 80,000 BTC. Sani acknowledged that he had initially missed these two addresses because they were already identified as "Individual X" in his system, leading him to exclude them from his unidentified filters during his initial tracking of Roger Ver’s wallets.

This event has raised significant questions about the identity and motivations of the individual or entity behind the transfer. Theories range from the involvement of high-profile figures to potential security breaches, highlighting the complex and often opaque nature of Bitcoin transactions. The crypto community continues to monitor the situation closely, as the movement of such a large amount of BTC could have far-reaching implications for the market.