04.07.2025 20:40

Two dormant Bitcoin wallets, inactive for over a decade, recently transferred over $1 billion each in Bitcoin, marking a significant event in the cryptocurrency's history. This remarkable activity, first highlighted by Lookonchain, involved a single entity moving 10,000 BTC ($1.09 billion) on a Friday, swiftly followed by the emptying of a second wallet containing a similar sum. These wallets, originally funded in April 2011 when Bitcoin's value was a mere $0.78, underscore the immense growth and potential of the cryptocurrency.


The considerable wealth represented by these transactions highlights a larger trend observed in the Bitcoin market. Bloomberg, citing data from 10x Research, reported that long-term Bitcoin holders, often referred to as "whales," have been selling off vast quantities of their holdings – exceeding $50 billion in the past year. These substantial sales, potentially driven by diversification into equities or other assets, involve a diverse range of actors; this includes miners, established financial institutions based in tax-advantaged locations, and numerous anonymous individuals.


This significant divestment by long-term holders offers a compelling explanation for Bitcoin's recent price performance. Despite substantial inflows into Bitcoin-related exchange-traded products and growing corporate adoption, the cryptocurrency has struggled to gain significant upward momentum. The growing influence of corporate entities, as noted by U.Today, is steadily reducing Bitcoin's volatility, bringing it closer to the stability observed in traditional markets like the S&P 500. This shift in market dynamics represents a significant change in the cryptocurrency's landscape.