The post Bitcoin Whale Transfer Possibly Linked to Wallet Upgrades, Industry Offers Varied Perspectives appeared on BitcoinEthereumNews.com.

A recent $8.6 billion Bitcoin transfer involving wallets dormant for over 14 years has sparked widespread speculation across the crypto industry, with experts debating its true intent. Blockchain intelligence firm Arkham suggests the movement may be linked to a wallet upgrade rather than a sell-off, highlighting the evolving nature of Bitcoin storage solutions. According to Arkham, “There are no indications that this whale is selling Bitcoin,” emphasizing the possibility of a transition from legacy wallets to more secure Native SegWit addresses. Bitcoin whale transfers worth $8.6B after 14 years may signal wallet upgrades, not sales, says Arkham, as industry experts weigh in on this historic crypto movement. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); Arkham Identifies Wallet Upgrade as Likely Reason Behind Massive Bitcoin Transfer The recent movement of 10,000 Bitcoin each from eight wallets, untouched since 2011, has drawn significant attention from blockchain analysts. Arkham’s investigation points to a probable upgrade from the original legacy 1-addresses to the more advanced bc1q Native SegWit addresses. This transition is known to enhance security features and reduce transaction fees, aligning with best practices for long-term Bitcoin holders. Arkham’s data reveals that these wallets were initially funded on April 2 or May 4, 2011, and the Bitcoin remained dormant for over 14 years. The recent transfers consolidated the funds into eight new wallets, which have since remained inactive, further supporting the…

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Filed under: News - @ July 6, 2025 6:12 am