Cathie Wood, CEO of ARK Invest, has suggested that the recent dormant Bitcoin whale movement may be linked to a government settlement . On Friday, Bitcoin (BTC) witnessed the biggest single-day shift in long-held coins . While this can happen for various reasons, leading industry figures like Cathie Wood have made a significant claim .
On-chain analyst David Puell revealed via X that 1.1 million coinyears were destroyed in 24 hours . This means that coins with 6.5 years of holding time value moved at once . Cathie Wood, CEO of ARK Invest, responded to the data on X . She compared it to the second-largest destruction event in Bitcoin history . She then raised an eyebrow-raising question: Was this linked to a government settlement deal?
Coinblock destruction tracks when old coins are moved . The higher the coin age, the more significant the move . That's why 1.1 million coinyears raised alarms across crypto circles . Despite the size of the shift, Bitcoin's price barely moved . That calm led to further speculation . Cathie Wood pointed out the lack of market reaction . She suggested that it may not have been a typical whale transfer . Instead, she claimed that this block could now be sitting in a government Treasury . That implies a large-scale, off-market move, possibly as part of a legal settlement .
Though Cathie Wood didn't name a country or agency, the timing raised questions . Recent headlines show that regulators are cracking down on crypto firms . It's possible a large holding was surrendered under legal pressure or as part of a court agreement . If Cathie Wood's claim is true, this would not be the first time states have quietly taken control of large Bitcoin stashes . In the US, for example, authorities have auctioned seized BTC in the past . But this shift was different . It involved unusually old coins and it happened in one sharp move .