Satoshi Era Bitcoin Whale Moves $8.69 Billion BTC After 14 Years

Investors fear triggers with on-chain data as a Bitcoin whale from the Satoshi Era moves 80,009 BTC today. The whale, who has had these tokens for over 14 years, has moved $8.69 billion equivalent tokens, generating suspicion of sell-offs and a BTC price crash. However, experts anticipate holding rather than selling. Moreover, BTC has newly attained the $108k level, and a mega whale’s move could disturb the trajectory.

Dormant Bitcoin Whales from the Satoshi Era Wake Up After 14 Years

After 14.4 years of dormancy, a Satoshi-era Bitcoin wallet woke up, transferring a total of 80,009 Bitcoins. As per the data from BitinfoCharts, the Bitcoin whale address NY8gD…. deposited 40,000 BTC worth $4.35 billion to a new address TSmxj… Within an hour of this transaction, the whale moved out 40,000 BTC to another address ECyqH… This development comes as Bitcoin price flirts around $109,000, with investors confused over the next directional move, either to $90K or $140K.

As per the BitInfoCharts data, the Satoshi wallet NY8gD…. originally received the BTC on April 3, 2011, when Bitcoin was priced at just $0.78, making the initial purchase worth just $7,805. As a result, the Satoshi-era whale is already sitting on a staggering 140,000x profit on the original investment. Such whale activity often sparks speculation across the crypto market regarding potential selling pressure or strategic repositioning.

Bitcoin Whale Suspected of Building BTC Treasury

A $8.69 billion BTC move led to much speculation of sell-offs and market volatility. However, a few crypto experts anticipate the possibility of the Bitcoin treasury formation rather than selling as the token nears its peak. Alistair Milne in a X post added that the whale is creating a Bitcoin Treasury co and intends to use these tokens to earn even more.

Similar events of whale awakening from dormancy suggest the possibility of further holding than moving. Blockchain analysts from Glassnode added that these long-term holders are less likely to sell, since they have purchased most of the Bitcoins at $100k breakout. This suggests reduced downside risk and a greater upside potential from here. Furthermore, with Trump’s ‘Big Beautiful Bill‘ getting a go-ahead, these whales are even less likely to sell.

BTC Long-Term Holders Show Strength, ETF Inflows Continue

Although the Satoshi-era Bitcoin whales sparked market excitement, it is not the only long-term holder. Glassnode reports that long-term BTC holders hold a record of 14.7 million BTC, most with the intention of holding.

On the other hand, spot bitcoin ETF inflows have continued at a greater strength, with another $601 million coming on Thursday, July 3. Fidelity’s FBTC dominated the inflows yesterday at $237 million, followed by BlackRock’s IBIT at $222 million. BlackRock’s IBIT has been smashing records, reaching close to 700,000 BTC holdings, and is among the top three of 1,197 BlackRock ETFs, among revenue fee generation.

With rising adoption and ongoing crypto bill developments, the long-term holders like the aforementioned whale could continue to hold. However, this is just an anticipation based on market analysis and expert opinions; end results could vary.

✓ Share:

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.