Original Title: "After 14 Years of Dormancy, 80,000 BTC Worth $8.69 Billion Is Transferred — Who Is the Real Owner? Will They Sell?"

Original Author: Asher, Odaily Planet Daily

After 14 Years of Silence, $8.69 Billion Worth of 80,000 BTC Moved

On-chain data analysis shows that since yesterday noon, the address of a long-dormant 14-year-old BTC whale has become active again, and its associated 8 wallet addresses have been gradually activated. These 8 addresses can be divided into two groups: 2 of the 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.

Currently, all 80,009 BTC held by these 8 addresses have been moved to 8 new addresses, with each new address now holding about 10,000 BTC. Based on 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 exchange platform but have already disrupted the market's nerves — crypto holders worldwide are watching closely for the next move of this "ancient fund."

How Significant is the Potential Sell Pressure?

The market is closely watching the next move of this ancient whale mainly due to its massive holding of 80,000 bitcoins, roughly equivalent to 13.4% of MicroStrategy's total holdings, and 6.35% of the known Satoshi Nakamoto wallet holdings. The cost basis of these BTC ranges from $0.78 to $3.37, having realized an astonishing profit of over one hundred thousand times to date. At current prices, the total value of these bitcoins is approximately $8.69 billion, far exceeding Binance's spot trading volume in the past 24 hours (only around $1 billion).

Furthermore, from other market data, the total amount of bitcoins purchased by publicly traded companies in Q2 2025 is around 131,000, with Bitcoin ETFs netting around 111,000 during the same period, and the net inflow last week was just over two thousand bitcoins daily. Therefore, once this ancient whale starts selling off in batches, the sell pressure it releases will far exceed the recent trading activities of any institution, and the impact on the market cannot be underestimated.

To Sell or Not to Sell: It Depends on Who This Ancient Whale Is

Speculation about the true identity of this ancient whale has sparked community discussions, with various opinions.

Perhaps an Early Miner, but Identity Uncertain

Conor Grogan, a Coinbase executive, posted on X platform stating that this BTC ancient whale appears to be a single miner from 2011. This miner consolidated 180 mining reward blocks and had a wallet address in 2011 containing 200,000 bitcoins, which is approximately $22 billion at the 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 because these transactions can be traced back to early block rewards and show consolidation of different block rewards, with yesterday's transfer looking like the merging of multiple smaller UTXOs with a larger UTXO (10,000 BTC).

「The Cat Roaster」 - A Key Figure in the Chinese Crypto Community

One speculation in the Chinese community points to the legendary figure in the crypto space known as "The Cat Roaster," whose real name is Jiang Xinyu. Born in Shaoyang, Hunan, this youthful genius gained admission to the Youth Class of the University of Science and Technology of China at the age of 15 before later visiting Yale University. He first encountered Bitcoin in 2011 and in 2012, under the name "friedcat," initiated a crowdfunding effort, successfully founding ASICMiner, becoming one of the earliest developers of Bitcoin-specific mining machines. His mining rigs once held 42% of the global hashrate, and the company enjoyed great success, earning him the title of "King of the Mining Circle."

However, Toaster Cat mysteriously disappeared at the end of 2014, and to this day, there has been no public announcement or any clues left behind. His legendary story and sudden disappearance have led many to speculate whether this batch of Bitcoin is related to him. However, feedback indicates that Toaster Cat only started mining in 2012, which does not align with the creation time of the wallet that was recently activated. Furthermore, activity on his public address only started in 2013 (address tracking information: https://intel.arkm.com/explorer/address/1BnkEt2ceoVhnQVrqeAzigcroQ6MVyxFey).

BlockBeats notes: This crypto analyst AI Auntie ai_9684xtpa stated, "It should not be Toaster Cat, as he seems to have started mining in 2012." Meanwhile, this whale has been accumulating Bitcoin in the address since 2011.

Toaster Cat Public Address Transaction Information

Bitcoin Early Evangelist Roger Ver

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

English communities widely speculate that this ancient whale is Roger Ver

Roger Ver is one of the most enthusiastic early promoters of Bitcoin. Starting in 2011, he invested in Bitcoin and provided full support to the MT.GOX exchange platform when Bitcoin was in crisis, helping it overcome technical difficulties. His company, Memorydealers, was among the first to accept Bitcoin payments and placed Bitcoin ads in Silicon Valley; he later launched bitcoinstore.com, offering hundreds of thousands of items for purchase with BTC.

From 2012 onwards, Roger Ver sequentially invested in startups such as BitPay, Coinbase, Ripple, Blockchain.info, nearly funding the entire first generation of Bitcoin startup companies. His evangelism and investment actions laid the early foundation for the Bitcoin ecosystem.

Between Belief and Redemption, This "Ancient Bomb" Remains Undecided

At the core of this storm lies not only in "who" but also in "what will be done." Regardless of whether the true identity of this ancient whale is ever revealed, one thing is certain — once they start selling, the selling pressure unleashed by these 14-year-old dormant bitcoins is bound to exceed what the bull market can withstand.

While we may never know what has led them to hold onto this asset for so long and become a true BTC "diamond hand," in the face of over a 100,000x unrealized gain, even the most devout Bitcoin believer is inevitably shaken. The current 80,000 BTC is like a "black swan" bomb in the market, ready to slow down the bull run.

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