Two long-inactive Bitcoin wallets, silent since 2011, suddenly moved 20,000 BTC to new addresses. The transfers took place on July 4, 2025, when Bitcoin was trading at around $109,000. The total value of the transferred funds exceeds $2 billion.
According to Lookonchain, both wallets were created in April 2011, when the price of Bitcoin was $0.78. At that time, the owners bought 10,000 BTC each for just $7,805. No transactions had been made on those addresses since then. The wallets use an outdated format common in the early years of the Bitcoin network.
Theories Behind the Move: Profit-Taking or Security Threat
On X, users speculated that “OG investors” might have decided to realize profits after 13 years of holding. Others questioned whether the transfers were voluntary, suggesting a possible compromise of private keys. Some proposed that the coins were being moved to more secure wallets or being prepared for future transactions. None of these theories have been confirmed.
Despite the scale of the transfer, Bitcoin’s price remained stable throughout the day, holding near $109,000.
Coin Days Destroyed Signals Higher Activity From Dormant Coins
The activation of these old wallets coincides with a spike in the Coin Days Destroyed (CDD) metric. CDD measures how long coins have remained unmoved before being spent. When old coins are transferred, the metric value rises sharply.
According to CryptoQuant data, CDD increased from 10 million to 17.5 million in the second quarter and then dropped back to 11 million by early July. This rise indicates renewed market activity from long-term holders and, analysts say, may exert pressure on the price.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.