A Satoshi-era Bitcoin wallet, dormant for 14 years, moved over $1 billion in BTC . According to blockchain analytics platform Spot On Chain, the wallet moved 10,000 BTC, valued at approximately $1.09 billion, to a new address .
On-chain records indicate that the BTC was originally acquired on April 3, 2011, for just $109,246, translating to an average acquisition price of $0.78 per coin . As such, the whale is looking at returns of over 140,000x on the initial investment . While the exact motivations behind the massive transfer remain unclear, it comes at a time when Bitcoin appears poised to reach a new all-time high .
It was further revealed that yet another $1 billion BTC address of the same Bitcoin OG had been emptied . Both wallets received their coins when they were worth just $0.78 back in April 2011 . Bitcoin is currently changing hands at $109,027, according to CoinGecko data .
A recent analysis by Bloomberg, based on 10x Research data, indicated increased activities among longtime wallets . Research reveals over $50 billion worth of Bitcoin transactions from these wallets .
Considering when these wallets were active on the Bitcoin network, some say they were likely among Satoshi's earliest collaborators . However, it's unlikely that those wallets belong to the Bitcoin creator . Another possibility is that some early Bitcoin holders, inactive for years, might now be moving their assets for various reasons .
In a dramatic incident on May 6, a wallet holding 687 BTC (worth $43.9 million) transferred its funds to two new addresses .