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Bitcoin Whales Wake Up From 14-Year Slumber to Move Over $2B of BTC
The transfers showed no signs of a profit-taking operation.
Updated Jul 4, 2025, 8:26 a.m. Published Jul 4, 2025, 7:21 a.m.
What to know:
- Two crypto wallets moved 20,000 BTC, valued at over $2 billion, to new addresses.
- The coins were originally received in 2011 when bitcoin was priced at 78 cents, now yielding a 140,000-fold return.
- The latest transfers show no signs of profit taking operation.
When a large whale moves in the sea, it creates ripples across the water. Similarly, when a large bitcoin holder, often referred to as a crypto whale, moves its coins on-chain, that creates buzz on social media, prompting observers to wonder if it's a prelude to a sale and downside price volatility.
Early Friday, two wallets, labelled "12tLs...xj2me" and "1KbrS...AWJYm," moved 20,000 BTC, worth over $2 billion, to new addresses. These flows were first noted by blockchain sleuth Whale Alert, and later by Lookonchain. The addresses received these coins on April 3, 2011, when bitcoin was priced at around 78 cents.
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Today, BTC is over $109,000, implying a staggering 140,000-fold return for the two whale addresses, which means that they have a strong incentive to liquidate their holdings. Many long-term holders have been selling their coins ever since BTC crossed above $100,000 in May.
That said, the latest transfers were made to non-exchange addresses, which have gone silent since receiving these coins. So, it's too early to conclude that the transfer operation is aimed at taking profits.
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