A Bitcoin whale addressed dormant holdings worth over $8.6 billion by moving 80,000 BTC, with each transaction batch estimated at $1 billion. The significant movement, which began with a withdrawal around 6:30 AM ET on Friday (July 5, 2025), marks the resurfacing of coins reportedly acquired following “coinbase” transactions—a mechanism where miners receive fees or financial rewards for their work.
- The total assets held were put at $8.6B, surpassing a record set by CryptoQuant a decade prior of 3,700 BTC.
- Analysis by Arkham Intelligence confirms the transaction stemming from coins originating via “coinbase” which render them effectively unminted and typically record their origin shortly after the block creation.
- Analysts suspect the transfer likely originates from an early Bitcoin miner or a company involved in crypto mining activities from the network’s earliest days.
- The fortune potentially belongs to a major holder (“whale”) with holdings reaching as high as 200,000 BTC cited by different reports. Conor Grogan (@Coinbase) estimated the entity’s probable Bitcoin holdings at $21.5B.
Reacting to news of the transaction, figures like CryptoQuant’s Julio Moreno pointed out the significance: “It is the largest daily movement of coins aged 10 years or more in history.” This shift of coins acquired earlier than the period of industrial-scale Bitcoin mining highlights the long-term storage (“HODLing”) strategy of crypto assets and draw attention to the potential correlation between whale activity and short-term market sentiment, particularly as Bitcoin remains down approximately 4% from its recent record high established in May.
