Two Satoshi Era Wallets Move 20,000 Bitcoin After 14 Years of Silence

The crypto market is buzzing after two old Bitcoin wallets, holding 20,000 BTC, suddenly became active again after 14 years of “hibernation.”

This event not only caught attention due to the huge value involved but also sparked speculation about its meaning and impact on the market.

Dormant $2 Billion in Bitcoin Moves as Markets Speculate

According to Lookonchain, one of these wallets was created on April 3, 2011, when Bitcoin was priced at just $0.78. Back then, the owner bought 10,000 BTC for a total cost of less than $7,805.

This wallet showed no activity for over a decade. Then, early on July 4, 2025, the entire BTC balance was moved.

Bitcoin Whale Wallet “1KbrS…JYm” Value. Source: bitinfocharts

On the same day, lookonchain also detected another wallet that had held 10,000 BTC since 2011, making a similar move.

Bitcoin Whale Wallet “12tLs….j2me” Value. Source: bitinfocharts

These two wallets hold a total of 20,000 BTC with a total value of over $2 billion, and have transferred all their Bitcoin to new addresses. Such moves are rare for wallets from the “Satoshi era,” referring to Bitcoin’s earliest years when Satoshi Nakamoto was active. These wallets used the legacy format, which was common back then but is now rarely used.

The transfer of 20,000 BTC happened while Bitcoin’s price hovered near record highs, around $110,000 per coin. This added even more intrigue to the owners’ possible motives.

Some users on X suggested that this could be a sign of early investors (OG hodlers) finally deciding to cash out after holding for over a decade. After all, Bitcoin’s price has surged hundreds of thousands of times compared to when they first bought.

“$7,805 to $1.09 Billion… that is the best investment decision of the century…,” X account Crypto Alpha said.

Other theories emerged, including the notion that the wallets might have been compromised, but there’s no concrete evidence. The owners could also move their Bitcoin to new wallets for better security or prepare for future transactions.

Whatever the reason, Bitcoin’s price on July 4 stayed relatively stable, hovering around $109,000 without major fluctuations.

Bitcoin’s Coin Days Destroyed Metric Rises in Q2

Coin Days Destroyed (CDD) is an on-chain metric that measures Bitcoin’s true activity level. It looks at how long coins remained “dormant” before being spent.

A high CDD means many “old” coins (with many accumulated coin days) are being moved.

Bitcoin CDD. Source: CryptoQuant

Data from CryptoQuant shows that CDD rose from 10 million to 17.5 million in Q2, before dropping back to 11 million in early July.

If long-dormant Bitcoin whale wallets become active and CDD rises sharply, this could significantly negatively affect the price.