Overview
- On Dec. 10, a cluster of long-dormant wallets labeled as connected to Silk Road moved about $3.14 million in Bitcoin across roughly 176–300 transactions.
- Funds were consolidated into a newly created Bech32 address beginning with “bc1q,” and the owner of the receiving wallet has not been identified.
- Blockchain intelligence firms characterize the pattern as consolidation into new SegWit custody, not a transfer to an exchange endpoint.
- Most tagged holdings remain inactive, with estimates ranging from roughly $38 million to $47 million across the identified address cluster.
- Earlier in May, two Silk Road-era wallets moved about 3,421 BTC in a similar consolidation pattern, and traders now watch for any exchange-labeled receipts—particularly at Coinbase Prime—as the key signal of potential distribution.