A long-dormant Bitcoin proprietor shifts large quantities of Bitcoin, worth millions, following a twelve-year hiatus
In the world of cryptocurrency, the past few weeks have seen significant movements from some of the earliest Bitcoin holders. These holders, who amassed their fortunes during the early days of Bitcoin, are now making their presence felt once again.
Last Friday, an ancient Bitcoin address, starting with "1c5Cb", was emptied. The wallet, which had been inactive for over a decade, held more than 300 Bitcoin. The Bitcoin was split between two wallets, one with 106 Bitcoin and another with 200 Bitcoin. However, the Bitcoin moved on Friday did not appear to be heading to a crypto exchange, hinting at secure storage reorganizations rather than immediate sales.
One of the most notable early Bitcoin holders is believed to be Bitcoin's creator, Satoshi Nakamoto, who is estimated to own 1.1 million Bitcoin. Quantum-vulnerable coins, including those belonging to Nakamoto, could potentially be at risk when quantum computers, strong enough to crack Bitcoin's encryption for early wallet-address types, become a reality.
Another example of early Bitcoin holders moving their assets is a wallet that was first funded in 2011. This wallet acquired 10,000 BTC in April 2011 for about $7,793 (around $0.78 per BTC). After more than 14 years dormant, the wallet moved its entire content (worth over $1 billion at 2025 prices around $118,000 per BTC) in early July 2025.
Early miner wallets from 2010 have also made headlines. Five ancient miner wallets containing 50 BTC each mined in April 2010 (totaling 250 BTC) were moved after roughly 15 years of dormancy in late July 2025. These movements appear deliberate and coordinated, with no links to exchanges, suggesting secure storage reorganizations rather than immediate sales.
As these early holders start to sell their positions, the market is witnessing a transition from original "whale" holders to institutional ownership. Institutions and treasury firms now collectively hold about 3.6 million BTC (over $419 billion worth). This shift reflects Bitcoin’s growing integration into mainstream finance.
However, the market is not without its uncertainties. Bitcoin recently hovered below $114,000 but could be entering a months-long correction phase, according to CryptoQuant. After further transfers, Galaxy Digital sold 80,000 Bitcoin worth $9 billion on behalf of a client. As of the latest rally, Bitcoin's price has fallen to a three-week low.
References: [1] Early Bitcoin holder activates significant block of holdings [link] [2] Five ancient miner wallets move after 15 years of dormancy [link] [3] Large Satoshi-era wallets rotate off positions [link]
- The cryptocurrency market has seen significant movements from early Bitcoin holders, who have amassed their fortunes during the early days of Bitcoin.
- Last Friday, a wallet with over 300 Bitcoin, inactive for over a decade and starting with "1c5Cb", was emptied, with the Bitcoin split between two wallets.
- One of these early Bitcoin holders is believed to be Bitcoin's creator, Satoshi Nakamoto, who is estimated to own 1.1 million Bitcoin.
- Another early holder moved their entire content (worth over $1 billion) in early July 2025, a wallet that was first funded in 2011 and acquired 10,000 BTC in April 2011.
- Early miner wallets from 2010 have also made headlines, with five ancient wallets containing 50 BTC each mined in April 2010 moving after roughly 15 years of dormancy in late July 2025.
- As these early holders start to sell their positions, the crypto market is witnessing a transition from original "whale" holders to institutional ownership, with institutions now collectively holding about 3.6 million BTC (over $419 billion worth).
