Original Title: "After 14 Years of Dormancy, 80,000 BTC Are Activated - Who Is the Real Owner? Will They Sell?"

Original Author: Asher, Odaily Planet Daily

Editor's Note: Today, the "14-Year Dormant 80,000 BTC Whale" transferred 40,000 BTC to a new address and sent 9,000 BTC to Galaxy Digital. Market analysis speculates that this transfer may be for an over-the-counter (OTC) sale. Currently, the whale is still conducting transactions. In response to this news, Bitcoin briefly dropped below $117,000, with a 1% decrease in the span of 1 hour.

This article was originally published on July 7th, with the following content:

After 14 Years of Dormancy, 80,000 BTC Worth $8.69 Billion Is Transferred

On-chain data monitoring shows that since yesterday noon, the address of a long-dormant 14-year-old BTC ancient whale has become active again, and its associated 8 wallet addresses have been successively activated. These 8 addresses can be divided into two groups: 2 addresses received 20,000 BTC on April 2, 2011, when the price of Bitcoin was only about $0.78; the other 6 addresses received 60,009 BTC on May 4, 2011, when the price of Bitcoin was $3.37.

As of now, all 80,009 BTC held by these 8 addresses have been transferred to 8 new addresses, with each new address currently holding approximately 10,000 BTC. At the current market price, the total value of these assets is approximately $8.69 billion. The specific receiving addresses are as follows:

· 1GcCK347TMbzHrRpDoVvJdR6eyECyqHCiU

· bc1qmnjn0l0kdf3m3d8khc6cukj8deakg8m588z24g

· bc1qymu2qf0d23qg38p9w7yxxt4yqjjg47rytxujl6

· bc1qnzy2rr7g3688x62f8vrhgeclvtcs5hr50wzu0w

· bc1q2lkyqvqqwus9pl96krgtk4rh0fqu8gtmpuwgmc

· bc1qhtawge4km6juhlkrnvt7qjahhsc96qdlgf3c8t

· bc1q84w6epn6uce9s85slt7q6emm3qfzz7ngq7ef6k

· bc1qwq5geath93h0lnfsrmnwnfuck2f9ypv4ewyl4j

These BTC have not yet been transferred to any trading platform, yet they have stirred the market's nerve—crypto holders around the world are watching attentively for the next move of this "ancient fund."

How Significant is the Potential Selling Pressure?

The market is so focused on the next move of this ancient whale mainly because of its massive holding of 80,000 BTC, roughly equivalent to 13.4% of MicroStrategy's total holdings, and 6.35% of the known Satoshi addresses. The cost of this batch of BTC ranges from $0.78 to $3.37, having achieved a staggering profit of over one hundred thousand times to date. At the current price, the total value of these bitcoins is approximately $8.69 billion, far exceeding Binance's spot trading volume in the last 24 hours (only around $1 billion).

Furthermore, based on other market data, the total amount of bitcoin purchased by publicly traded companies in Q2 2025 is around 131,000 BTC, with bitcoin ETFs netting a purchase of around 111,000 BTC during the same period, and last week's daily net inflow was just over two thousand BTC. Therefore, once this ancient whale starts selling in batches, the scale of selling pressure released will far exceed any recent institutional buying and selling activities, and the impact on the market cannot be underestimated.

To Sell or Not to Sell, That is the Question Depending on Who This Ancient Whale is

Speculation about the true identity of this ancient whale has sparked various conjectures in the community.

Perhaps an Early Miner, but Identity Uncertain

Coinbase executive Conor Grogan posted on Platform X, suggesting that this BTC ancient whale appears to be from a single miner in 2011. The miner consolidated 180 mining reward blocks and had a wallet address in 2011 containing 200,000 bitcoins, worth approximately $22 billion at the current value, making it one of the top five bitcoin wallets in history.

CryptoQuant analyst Julio Moreno also believes that this ancient whale is an early miner, as these transactions can be traced back to early block rewards and show consolidation of different block rewards, yesterday's transfers look like they were consolidating multiple smaller UTXOs with one larger UTXO (10,000 BTC).

「The First Figure in the Chinese Cryptocurrency Community」 Fried Cat

One speculated figure in the Chinese community is the legendary figure in the cryptocurrency space known as "Fried Cat." His real name is Jiang Xinyu, born in Shaoyang, Hunan Province. A youthful prodigy, he entered the Youth Class of the University of Science and Technology of China at the age of 15 and later studied at Yale University. In 2011, he was introduced to Bitcoin and in 2012, under the pseudonym "friedcat," he posted and initiated crowdfunding, successfully founding the ASICMiner company. He became one of the earliest entrepreneurs to develop Bitcoin-specific mining machines. His mining machines once accounted for 42% of the global hashrate, and the company enjoyed unparalleled success, earning him the title of "King of the Mining Community."

However, Fried Cat mysteriously disappeared at the end of 2014, and to this day, there has been no public information or clues about his whereabouts. His legendary story and sudden disappearance have led many to suspect whether the Bitcoins in question are related to him. However, feedback indicates that Fried Cat only started making mining machines in 2012, which does not align with the creation time of the wallet that was recently activated. In addition, activity in his public address only began in 2013 (Address tracking information: https://intel.arkm.com/explorer/address/1BnkEt2ceoVhnQVrqeAzigcroQ6MVyxFey).

BlockBeats' note: This crypto analyst AI user ai_9684xtpa stated, "It's unlikely Fried Cat, as he seems to have started making mining machines in 2012." Whereas the whale in question has been collecting Bitcoin since 2011.

Fried Cat Public Address Transfer Information

Bitcoin Early Evangelist Roger Ver

In various English communities, the general speculation is that this ancient whale is the Bitcoin early evangelist Roger Ver, also known as Bitcoin Jesus.

English community generally speculates that this ancient whale is Roger Ver

Roger Ver is one of the most passionate early promoters of Bitcoin, starting his Bitcoin investments in 2011. He wholeheartedly supported the MT.GOX trading platform when Bitcoin faced a crisis, helping it overcome technical difficulties. His company, Memorydealers, was among the first to accept Bitcoin payments and ran Bitcoin ads in Silicon Valley. He later launched bitcoinstore.com, offering support for BTC purchases of hundreds of thousands of products.

Since 2012, Roger Ver has been investing in a series of startups such as BitPay, Coinbase, Ripple, Blockchain.info, almost single-handedly funding the entire first generation of Bitcoin startups. His evangelism and investment behavior laid the early foundation for the Bitcoin ecosystem.

Between Belief and Liquidation, the "Ancient Bomb" Remains Undetonated

The crux of this storm lies both in "who" and in "what." Whether the true identity of this ancient whale is ultimately revealed or not, one thing is certain — once they begin to sell, the selling pressure released by these dormant 14-year-old bitcoins will undoubtedly exceed what the bull market can withstand.

Although we cannot know for sure what made them hold onto these assets for so long and become a true BTC "diamond hand," faced with a paper return of over 100,000 times, even the most devout Bitcoin believers are inevitably shaken. The current 80,000 BTC is like a "black swan" bomb in the market that could detonate at any moment, slowing down the bull market's pace.

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