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Dormant Satoshi-Era Wallets Shift Record $8.6 B in Address Upgrades

Analyst confirmation that the decade-old coins were only moved helped bitcoin’s price recover to around $108,000.

A file photo of golden Bitcoins, representing the digital currency.
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Overview

  • Blockchain records show eight wallets dormant since 2011 transferred 80,000 BTC worth about $8.6 billion and three addresses moved 23,377 BTC, marking unprecedented single-day shifts of decade-old coins.
  • Arkham Intelligence interprets the movements as a security-focused upgrade to newer address formats and finds no evidence of any sales.
  • Coinbase director Conor Grogan warns there is a small possibility that compromised private keys could have driven the transfers.
  • Bitcoin’s value briefly dipped below $108,000 on sell-off fears before stabilizing once it became clear the coins were simply relocated.
  • The identity of the Satoshi-era wallet owner remains unknown, highlighting ongoing market sensitivity to early Bitcoin holdings.