After 14 Years of Silence, 80,000 BTC Worth $8.69 Billion Transferred
On-chain data monitoring shows that since noon yesterday, a BTC ancient whale's address that had been dormant for 14 years became active again, with 8 associated wallet addresses being successively activated. These 8 addresses can be divided into two batches: 2 addresses received 20,000 BTC on April 2, 2011, when Bitcoin's price was only around $0.78; the remaining 6 addresses received 60,009 BTC on May 4, 2011, when Bitcoin's price was $3.37.
So far, all 80,009 BTC from these 8 addresses have been transferred to 8 new addresses, with each new address now holding approximately 10,000 BTC. At current market prices, the total value of these assets is about $8.69 billion, with the specific receiving addresses as follows:
· 1GcCK347TMbzHrRpDoVvJdR6eyECyqHCiU
· bc1qmnjn0l0kdf3m3d8khc6cukj8deakg8m588z24g
· bc1qymu2qf0d23qg38p9w7yxxt4yqjjg47rytxujl6
· bc1qnzy2rr7g3688x62f8vrhgeclvtcs5hr50wzu0w
· bc1q2lkyqvqqwus9pl96krgtk4rh0fqu8gtmpuwgmc
· bc1qhtawge4km6juhlkrnvt7qjahhsc96qdlgf3c8t
· bc1q84w6epn6uce9s85slt7q6emm3qfzz7ngq7ef6k
· bc1qwq5geath93h0lnfsrmnwnfuck2f9ypv4ewyl4j
These BTC have not yet been transferred to any trading platform, but have already stirred market nerves - crypto holders worldwide are holding their breath, watching the next move of these "ancient funds".
How Large is the Potential Selling Pressure?
The market is so focused on this ancient whale's next action mainly because the 80,000 bitcoins held are massive, approximately 13.4% of MicroStrategy's total position, and 6.35% of known Satoshi Nakamoto addresses. The cost basis of these BTC ranges from $0.78 to $3.37, having achieved over a hundred-thousand-fold stunning profits to date. At current prices, the total value of these bitcoins is about $8.69 billion, far exceeding Binance's spot trading volume in the past 24 hours (only around $1 billion).
Additionally, from other market data, listed companies purchased about 131,000 BTC in the second quarter of 2025, while Bitcoin ETFs net bought around 111,000 during the same period, and last week's daily net inflow was only over 2,000. Thus, if this ancient whale begins selling in batches, the selling pressure released would far exceed any institutional trading activity in recent times, and its market impact cannot be underestimated.
Selling or Not Depends on Who This Ancient Whale Really Is
Speculation about the true identity of this ancient whale has sparked widespread discussion in the community.
Possibly an Early Miner, But Identity Unconfirmed
Coinbase executive Conor Grogan posted on X platform that this BTC ancient whale seems to be an individual miner from 2011. This miner consolidated 180 mining reward blocks and once owned a wallet containing 200,000 bitcoins in 2011, which would be worth about $22 billion at current value, making it one of the top five Bitcoin wallets in history.
CryptoQuant analyst Julio Moreno also believes this ancient whale is an early miner, as these transactions can be traced back to early block rewards and appear to be consolidating different block rewards, with yesterday's transfer looking like merging multiple smaller UTXOs with a larger UTXO (10,000 BTC).
"First Person in Chinese Crypto Circle" Kao Mao
In the Chinese community, one speculation target is the crypto legend "Kao Mao", whose real name is Jiang Xinyu, from Shaoyang, Hunan. A child prodigy who entered the China University of Science and Technology's youth program at 15 and later studied at Yale. He encountered Bitcoin in 2011 and crowdfunded in 2012 under the name "friedcat", successfully founding ASICMiner, becoming one of the earliest Bitcoin mining machine developers. His mining machines once occupied 42% of global computing power, and his company was once gloriously known as the "mining circle hegemon".
However, Kao Mao mysteriously disappeared in late 2014 with no public information since, leaving no traces. His legendary experience and sudden disappearance have led many to suspect whether these bitcoins are related to him. However, feedback suggests he started making mining machines in 2012, which doesn't match the creation time of this activated wallet. Additionally, his public address activity only began in 2013.
Early Bitcoin Evangelist Roger Ver
In major English-language communities, people generally speculate that this ancient whale is early Bitcoin evangelist Roger Ver, nicknamed "Bitcoin Jesus".
Roger Ver is one of Bitcoin's most passionate early evangelists, starting to invest in Bitcoin in 2011 and fully supporting MT.GOX exchange during its crisis. His company Memorydealers was the first to accept Bitcoin payments and placed Bitcoin advertisements in Silicon Valley. He later launched bitcoinstore.com, enabling tens of thousands of goods to be purchased with BTC.
From 2012, Roger Ver successively invested in BitPay, Coinbase, Ripple, Blockchain.info, and other startups, almost funding the entire first-generation Bitcoin startup ecosystem. His evangelistic spirit and investment behaviors laid the early foundation for the Bitcoin ecosystem.
Between Belief and Realization, This "Ancient Bomb" Remains Unresolved
The core of this storm lies both in "who" and "what will be done". Regardless of whether this ancient whale's true identity is ultimately revealed, one thing is undeniable - once he starts selling, the selling pressure from these 14-year-dormant bitcoins will inevitably exceed what a bull market can bear.
Although we cannot know what made him a true BTC "diamond hands" holding this asset long-term, facing over a hundred-thousand-fold book profits, even the most devout Bitcoin believer would find it hard to remain unmoved. These 80,000 BTC are like a "black swan" bomb that could detonate the market at any moment, slowing the bull market's pace.
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