Bigger than $8 billion worth of Bitcoin mined within the course of the cryptocurrency’s earliest days, is named the “Satoshi period,” changed into once transferred on Friday within the greatest such switch ever recorded.
Eight wallets that had been dormant since 2011 moved 10,000 BTC to new SegWit addresses on Friday, greater than 14 years after receiving the BTC. The identity of the wallets is unknown, along with their possession.
The incident has brought about hypothesis and curiosity within the crypto community. Coinbase director Conor Grogan, who goes by “Connor” on X, has nowadays reacted to a rumor surrounding one among the mysterious addresses that had shifted 10,000 Bitcoin.
An X consumer claimed that one among the wallets that moved 10,000 BTC (worth over $1 billion) changed into once mentioned on a forum in 2013. The patron even posted a screenshot of the frail forum put up, alleging that any individual had once sent 1.5 BTC to a chum the usage of the same wallet address.
Grogan, on the different hand, changed into once fast to retort, calling the claim mistaken. “Guy made it up,” Grogan posted on X. “There changed into once never a 1.5 BTC transaction to or from the address.”
Guy made it up, there changed into once never a 1.5 btc transaction to or from the address pic.twitter.com/kOMYF7kzqs
— Conor (@jconorgrogan) July 5, 2025
The Coinbase director shared a screenshot of blockchain files that supports this assertion, indicating that no such transaction ever befell with the address.
New update emerges
On Friday, eight Bitcoin wallets shifted 10,000 BTC every, for a complete of 80,000 BTC, or $8.6 billion, drawing consideration from the crypto community. The moved cash belong to the rarest class of BTC: mined or transacted within the course of the “Satoshi period,” which lasted from the open of Bitcoin in 2009 to 2011, when its pseudonymous founder changed into once mild fascinating online.
On-chain intelligence platform, Arkham, speculated that every one the wallets seem like owned by the same entity. Nevertheless, no particular person or company has publicly claimed possession of the wallets.
Arkham nowadays tweeted an update on the problem, striking to rest hypothesis that a Bitcoin OG whale changed into once selling; “$8 billion transfers had been possibly associated to address upgrades, shifting from 1- addresses to bc1q-addresses. There’ll now not be any indications that this whale is selling Bitcoin,” Arkham mentioned.
