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.