- Two major Bitcoin wallets transferred 20,000 BTC, valued at over $2 billion, to new locations.
- The bitcoin in question was originally received in April 2011, when each coin was worth about $0.78.
- These transactions were reported early Friday by blockchain tracking services such as Whale Alert and Lookonchain.
- The receiving addresses have not moved or sold the transferred bitcoin since the transaction.
- Since bitcoin surpassed $100,000 in May, several long-term holders have begun selling, but these particular coins have not been sent to exchanges.
Early Friday, two bitcoin wallets labeled 12tLs…xj2me and 1KbrS…AWJYm moved a total of 20,000 BTC, worth more than $2 billion, to new digital addresses. The coins had been dormant since April 3, 2011, when they were received at a price of approximately $0.78 per bitcoin.
The movements were tracked by blockchain observers such as Whale Alert and Lookonchain. At today’s rates, the original holdings have increased roughly 140,000 times in value.
Today, a single bitcoin is trading above $109,000. This sizeable increase means the owners of these wallets stand to make significant gains if they choose to sell. “The latest transfers were made to non-exchange addresses, which have gone silent since receiving these coins,” the report noted. As a result, it remains unclear if the intention is to liquidate the assets or to continue holding them.
Observers on social media speculated about potential market impact, as such large movements by “crypto whales”—investors who hold significant amounts of a cryptocurrency—often create concern about possible price drops. However, since the transferred funds have not reached exchanges, industry trackers say it’s too early to conclude that these bitcoins will enter circulation or trigger downside volatility.
Historically, many long-term bitcoin holders have begun selling once the price crossed the $100,000 threshold in May. However, the destination addresses connected to this latest movement have not shown additional activity. As of now, the coins remain unmoved in their new wallets.
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