80,000 BTC were activated after 14 years of dormancy. Who are they? Will they be sold?

avatar
Asher
4 hours ago
This article is approximately 1092 words,and reading the entire article takes about 2 minutes
Is it Baked Cat, Roger Ver, or earlier miners?

Original | Odaily Planet Daily ( @OdailyChina )

Author | Asher ( @Asher_0210 )

80,000 BTC were activated after 14 years of dormancy. Who are they? Will they be sold?

After 14 years of silence, 80,000 BTC worth $8.69 billion were transferred

On-chain data monitoring shows that since noon yesterday, the address of a BTC ancient whale that had been silent for 14 years has become active again, and its associated 8 wallet addresses have been activated one after another. These 8 addresses can be divided into two batches: 2 of them received 20,000 BTC as early as April 2, 2011, when the price of Bitcoin was only about $0.78; the remaining 6 addresses received 60,009 BTC on May 4, 2011, when the price of Bitcoin was $3.37.

As of now, all 80,009 BTC held by these 8 addresses have been transferred to 8 new addresses, each of which now holds approximately 10,000 BTC. Based on the current market price, the total value of this batch of assets is approximately US$8.69 billion. The specific receiving addresses are as follows:

  • 1GcCK347TMbzHrRpDoVvJdR6eyECyqHCiU

  • bc1qmnjn0l0kdf3m3d8khc6cukj8deakg8m588z24g

  • bc1qymu2qf0d23qg38p9w7yxxt4yqjjg47rytxujl6

  • bc1qnzy2rr7g3688x62f8vrhgeclvtcs5hr50wzu0w

  • bc1q2lkyqvqqwus9pl96krgtk4rh0fqu8gtmpuwgmc

  • bc1qhtawge4km6juhlkrnvt7qjahhsc96qdlgf3c8t

  • bc1q84w6epn6uce9s85slt7q6emm3qfzz7ngq7ef6k

  • bc1qwq5geath93h0lnfsrmnwnfuck2f9ypv4ewyl4j

These BTC have not yet been transferred to any exchange, but they have already stirred the nerves of the market - crypto holders around the world are holding their breath and watching the next move of this ancient capital.

How great is the potential selling pressure?

The market is so concerned about the next move of this ancient whale mainly because the 80,000 bitcoins he holds are huge, equivalent to about 13.4% of MicroStrategys total holdings and 6.35% of the known Satoshi Nakamoto addresses. The cost price of this batch of BTC ranges from $0.78 to $3.37, and it has achieved an amazing profit of more than 100,000 times so far. At the current price, the total value of these bitcoins is about $8.69 billion, far exceeding Binances spot trading volume in the past 24 hours (only about $1 billion).

In addition, from other market data, the total amount of bitcoins purchased by listed companies in the second quarter of 2025 was about 131,000, and the net purchase of bitcoin ETFs during the same period was about 111,000, while the daily net inflow last week was only more than 2,000. It can be seen that once this ancient whale starts selling in batches, the scale of the selling pressure it releases will far exceed the recent buying and selling activities of any institution, and the impact on the market cannot be underestimated.

Whether to throw it or not depends on who this ancient giant whale is.

Speculations about the true identity of this ancient giant whale have sparked speculation in the community, and there are many different opinions.

Or an early miner, but the identity cannot be confirmed

Coinbase director Conor Grogan posted on the X platform that the BTC ancient whale seems to be a single miner from 2011. The miner integrated 180 mining reward blocks and had a wallet address containing 200,000 bitcoins in 2011, which is about $22 billion at current value, which would make it one of the top five Bitcoin wallets of all time.

CryptoQuant analyst Julio Moreno also believes that this ancient whale is an early miner because these transactions can be traced back to early block rewards and show that different block rewards are being integrated. Yesterdays transfer looked like merging multiple smaller UTXOs with a larger UTXO (10,000 BTC).

The first person in the Chinese cryptocurrency circle Kaomao

One of the people in the Chinese community speculated that the legendary figure in the cryptocurrency circle was Fried Cat. His real name is Jiang Xinyu, a native of Shaoyang, Hunan. He was a young genius. At the age of 15, he was admitted to the Junior Class of the University of Science and Technology of China, and later went to Yale for a visiting scholar program. He came into contact with Bitcoin in 2011, and in 2012, he posted a post under the name friedcat to initiate crowdfunding, and successfully founded ASICMiner, becoming one of the earliest entrepreneurs to develop Bitcoin-specific mining machines. His mining machines once accounted for 42% of the worlds computing power, and the company was once unrivaled and was hailed as the top tyrant in the mining circle.

However, FriedCat mysteriously disappeared at the end of 2014, and there has been no public news or clues so far. His legendary experience and sudden loss of contact have made many people wonder whether this batch of Bitcoins is related to him. However, according to feedback, FriedCat only started to make mining machines in 2012, which does not match the creation time of the wallet that was activated this time. In addition, the dynamics of its public address only started in 2013 (address tracking information: https://intel.arkm.com/explorer/address/1BnkEt2ceoVhnQVrqeAzigcroQ6MVyxFey ).

80,000 BTC were activated after 14 years of dormancy. Who are they? Will they be sold?

BBQCat public address transfer information

Roger Ver, early Bitcoin evangelist

In major English communities, it is widely speculated that this ancient whale is Roger Ver, an early Bitcoin evangelist nicknamed Bitcoin Jesus.

80,000 BTC were activated after 14 years of dormancy. Who are they? Will they be sold?

English-speaking regions generally speculate that this ancient whale is Roger Ver

Roger Ver is one of the most enthusiastic evangelists of Bitcoin in the early days. He started investing in Bitcoin in 2011 and fully supported the MT.GOX exchange when Bitcoin was in crisis, helping it overcome technical difficulties. The company he founded, Memorydealers, was the first to accept Bitcoin payments and also placed Bitcoin advertisements in Silicon Valley; later, bitcoinstore.com was launched, enabling hundreds of thousands of products to be purchased with BTC.

Since 2012, Roger Ver has invested in several startups, including BitPay, Coinbase, Ripple, Blockchain.info, and almost funded the entire first generation of Bitcoin startups. His preaching spirit and investment behavior laid the early foundation for the Bitcoin ecosystem.

Between belief and fulfillment, this ancient bomb is still hanging in the balance

The core of this storm lies in both “who” and “what will be done”. Regardless of whether the true identity of this ancient whale is finally revealed, one thing is beyond doubt - once he starts selling, the selling pressure released by these dormant bitcoins for 14 years will inevitably exceed the range that the bull market can bear.

Although we have no way of knowing what made him hold on to this asset for so long and become a true BTC “diamond hand”, even the most devout Bitcoin believers are inevitably shaken in the face of a book profit of more than 100,000 times. Currently, these 80,000 BTC are like a “black swan” bomb that may detonate the market at any time, slowing down the bull market.

Original article, author:Asher。Reprint/Content Collaboration/For Reporting, Please Contact report@odaily.email;Illegal reprinting must be punished by law.

ODAILY reminds readers to establish correct monetary and investment concepts, rationally view blockchain, and effectively improve risk awareness; We can actively report and report any illegal or criminal clues discovered to relevant departments.

Recommended Reading
Editor’s Picks