Bitcoin Whale Transfer Possibly Linked to Wallet Upgrades, Industry Offers Varied Perspectives
2025-07-06 06:13:19
Main Idea
A recent transfer of 10,000 Bitcoin each from eight dormant wallets, untouched since 2011, is likely due to wallet upgrades rather than sales, according to Arkham's analysis.
Key Points
1. Arkham suggests the movement of 10,000 Bitcoin from each of eight wallets, inactive since 2011, is probably an upgrade from legacy 1-addresses to bc1q Native SegWit addresses.
2. The wallets were initially funded in April or May 2011, and the Bitcoin remained dormant for over 14 years before the recent transfer.
3. Industry experts speculate the transfer could be related to wallet management upgrades rather than sales or market activity.
4. The transfer, worth $8.6 billion, highlights evolving best practices for long-term Bitcoin holders.
5. Community reactions include intrigue and humor, with figures like Changpeng Zhao (CZ) noting the original acquisition price of approximately $0.10 per Bitcoin in 2011.
Description
A recent $8.6 billion Bitcoin transfer involving wallets dormant for over 14 years has sparked widespread speculation across the crypto industry, with experts debating its true intent. Blockchain intelligence firm
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