Dormant 2011 Bitcoin Wallet Awakens with 40,000 BTC Transfer

A Bitcoin wallet dormant since 2011 transferred over 40,192 BTC worth approximately $4.75 billion to a fresh address. This transaction marks the second major movement this week from the same whale, who earlier transferred 40,009 BTC to Galaxy Digital.

According to blockchain analytics service Lookonchain, the funds came from several 2011-era addresses. The transaction represents the second tranche of an approximately 80,000 BTC stash worth about $9.5 billion at current prices.

Blockchain records suggest the whale originally acquired these holdings in April and May 2011. Records show 20,000 BTC purchased at $0.78 per coin and 60,009 BTC at $3.37 per coin. The total investment was under $220,000.

Data from Nansen shows Galaxy Digital routed about 6,000 BTC to Binance and Bybit following the initial transfer. On-chain monitoring services recorded increased exchange inflows after the latest transfer.

Dormant whale movements often prompt speculation of incoming market volatility, especially when linked to OTC activity or exchange inflows. Analysts view continued transfers to exchange deposit wallets as a bearish signal.

Bitcoin currently trades above $118,000, approaching recent all-time highs. The inflows of ETFs included a record $2.2 billion over two days. Futures open interest peaked at $57.4 billion.

Related: The $50B Horizon: Why US Spot Bitcoin ETFs Remain Attractive

Market participants are monitoring the new address for additional transfers, particularly to exchange deposit wallets. Industry analysts view such transfers as indicators of potential selling activity that could impact short-term price action.

The whale’s identity remains unknown. Though early speculation named figures such as Roger Ver or even Satoshi Nakamoto, no direct connection has been established. Some believe the wallet may be owned by an early miner from the era when Bitcoin’s block reward was 50 BTC.