Dormant Bitcoin Wallet Transfers 80,009 BTC($9.68B) after 14+ years
The crypto industry is in shock as dormant wallets of more than 14 years transfer a jaw-dropping 80,009 BTC.
In a post on X, Lookonchain announced that a dormant Bitcoin whale has transferred yet another 20,009 BTC, worth approximately $2.42 billion, from two of its wallets to a new wallet, “bc1qmu”.
Hours later, the platform confirmed that this Bitcoin OG, with 80,009 $BTC ($9.46B), appears to be selling. They have further transferred 9,000 ($1.06B) in BTC to Galaxy Digital, which has emerged as the leading destination for these funds in preparation for selling through their services.
From silence to a historic move
Earlier this month, the inactive Bitcoin whale shifted 80,009 BTC from wallets that had been untouched for a long time. This amounted to roughly $8.69 billion in value, according to Lookonchain.
The eight wallets had remained unused since 2011, when BTC was worth between $0.78 and $3.37. After more than 14 years of dormancy, they sprang back to life and executed transactions.
Significantly, the Satoshi-era whale wallet address NY8gD… transferred 40,000 BTC valued at $4.35 billion to a fresh address TSmxj… Within the hour, the whale moved another 40,000 BTC to the address ECyqH…, finalizing this historic transfer.
Could it be a Part of Silk Road Bitcoin
This move has raised several questions across the cryptocurrency industry. Is the owner simply consolidating assets, or is there a hint of a possible resale? Whilst such moves don’t confirm a rush to sell, they may bring unease that traders can feel. When whales reposition, confusion may swell, and market sentiment may spin like a wheel.
Several media reports in the industry speculate that these wallets could belong to Ross Ulbricht, the creator of the dark web platform Silk Road. Authorities detained Ulbricht in 2013 and faced charges of drug trafficking, hacking, and conspiracy to launder funds. He also stood accused of plotting contract murders — the FBI believed he arranged and financed up to six killings of site users suspected of theft and extortion, although no victims were ever verified.
On May 20, 2015, the court convicted him of running a large-scale narcotics distribution network, conspiracy to launder money, and participation in hacking activities. The court handed him two life sentences plus additional terms of 20, 15, and 5 years on other charges. On January 21, 2025, Ulbricht was granted a pardon and released by U.S. President Donald Trump.
