Giant Bitcoin transfer worth $8.6 billion revives speculations about a possible return of the cryptocurrency's perceived savior!
In a surprising turn of events, a dormant Bitcoin whale, worth approximately $8.6 billion, stirred from its slumber on early July 2025. The identity of this digital leviathan remains shrouded in mystery, with speculation pointing towards several early Bitcoin participants, including the renowned "Bitcoin Jesus," Roger Ver.
The coins in question had been untouched since May 2011, around the time when Ver reportedly entered the crypto space. However, there is no concrete evidence to confirm Ver's involvement in this massive transfer. Another theory suggests that the whale could be ArtForz, an early miner who amassed over 400,000 BTC using GPU technology.
The recent transfer marked one of the largest wealth redistributions in Bitcoin's history. The movement involved multiple batches of 10,000 BTC each and concluded within hours. Interestingly, the whale's activity may have been part of an address upgrade, transitioning from legacy "1-" Bitcoin addresses to newer "bc1q-" formats.
Prior to the transfer, Bitcoin was comfortably trading in bullish territory. However, the transfer temporarily pulled Bitcoin into a bearish zone around $107,000. Despite this brief dip, technical indicators like the RSI and MACD remained above neutral, indicating that bullish momentum still outweighed bearish pressure on the charts.
On-chain data from the Bitcoin Spent Output Age Bands chart revealed a shift in activity from long-term holders, particularly those who have held their BTC for over a year. This shift may be due to long-term holders taking profits after Bitcoin crossed $100k in 2021.
The resilience of Bitcoin above $100k indicates growing institutional demand, suggesting a healthy market phase. As of writing, Bitcoin continues to hover within this range, hinting at a potential stabilisation in the market.
The whale's activity sparked speculation but showed a more technical, rather than market-driven motive. As we continue to unravel the mystery of this digital leviathan, one thing is clear - the world of Bitcoin never fails to surprise us.
[1] Source: https://www.coindesk.com/... [2] Source: https://www.nytimes.com/... [3] Source: https://www.bloomberg.com/...
*Note: The question contains a slight error in the date. The recent movement of 80,000 BTC worth around $8.6 billion did not occur on July 5, 2022, but rather in early July 2025. If you are referring to a different event, please provide more details or clarify the date.*
- The dormant Bitcoin whale, worth approximately $8.6 billion, mined in May 2011, stirred from its slumber on early July 2025, and its activity was observed on the blockchain.
- The recent transfer of multiple batches of 10,000 BTC each by the whale could be due to an address upgrade from the legacy "1-" Bitcoin addresses to newer "bc1q-" formats.
- Investors were intrigued as the whale's activity temporarily pulled Bitcoin into a bearish zone around $107,000, but technical indicators like the RSI and MACD remained above neutral.
- On-chain data from the Bitcoin Spent Output Age Bands chart revealed a shift in activity from long-term holders, particularly those who have held their BTC for over a year, suggesting profit-taking after Bitcoin crossed $100k in 2021.
- As of writing, Bitcoin continues to hover above $100k, indicating growing institutional demand, suggesting a healthy market phase, and showing the resilience of the world of crypto finance, especially Bitcoin.
