$2B in Satoshi-Era Bitcoin Moves After 14 Years, Adding Pressure on Market

Two long-dormant Bitcoin wallets, each holding approximately $1 billion worth of BTC, have suddenly become active after 14 years of silence. According to Lookonchain, a wallet containing 10,000 BTC—valued at around $1.09 billion—was moved earlier this Friday. Shortly afterward, a second wallet belonging to the same early Bitcoin holder was also emptied. Both addresses originally received their coins in April 2011, when Bitcoin was trading at just $0.78.

This massive movement of "Satoshi-era" coins has sparked widespread speculation. While the identity behind the transfers remains unknown, blockchain analysts suggest these may be early miners, hedge funds, or high-net-worth individuals operating out of low-tax jurisdictions.

According to a Bloomberg report citing data from 10x Research, this is part of a broader trend: early Bitcoin whales have offloaded over $50 billion in BTC over the past year. Some of these whales are reportedly converting their crypto holdings into traditional equity assets, signaling a strategic shift amid evolving market dynamics.

Despite increased institutional interest—with players like Fidelity buying $183.7 million worth of BTC in a single day—Bitcoin has struggled to sustain upward momentum. Analysts believe that the selling pressure from long-term holders may be neutralizing the bullish inflows from exchange-traded products and corporate treasuries.

As of writing, Bitcoin is trading at $109,027, according to CoinGecko. These large-scale transfers by early adopters are likely to add short-term uncertainty, raising questions about market resilience and the potential for further volatility.