Dormant Satoshi-Era Bitcoin Whale Moves $4 Billion—But It May Not Be a Sell-Off Indicator
A Satoshi-era Bitcoin wallet transferred 40,009 BTC, valued at approximately $4.7 billion, to Galaxy Digital. Of this, 6,000 BTC worth about $706 million was subsequently moved to Binance and Bybit, suggesting a potential sale preparation. The wallet, dormant for 14 years since 2011, has now transferred a total of 18,343 BTC ($2.15 billion) from two wallets, leaving 40,000 BTC still held privately. This activity coincides with a trend of significant transfers from dormant wallets amid rising Bitcoin prices. Analysts caution that such movements may not indicate an imminent sell-off; instead, they could reflect strategies to obscure intentions and facilitate future transactions without impacting market visibility. Galaxy Digital offers services that support substantial market maker activities.
