Dormant Bitcoin Whale Moves 50,000 BTC from 2011
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Key Points: Dormant Bitcoin whale moves 50,000 BTC after 14 years. Valued at over 8.6 billion dollars. Market focuses on security amid key concerns. A Bitcoin whale from 2011, identified as a solo miner, moved 50,000 BTC after 14 years, revealed by Coinbase executive Conor Grogan. The transfer may signal compromised security, heightening market alertness and reactionary discourse. Historic Whale Moves 50,000 BTC, Sparking Security Debate In a substantial move, a Bitcoin whale deemed a solo miner from 2011, shifted 50,000 BTC. Conor Grogan from Coinbase spotlighted this event, noting the whale’s past holding of 200,000 BTC – among the top five wallets ever. The transaction, valued at over 8.6 billion dollars, stirred speculation about possible compromised private keys. This arose after an unusual Bitcoin Cash transaction surfaced before the BTC transfer. Market observers raised concerns, with no immediate liquidity or security changes noted. Conor Grogan remarked about potential hacking, heightening surveillance and scrutiny. “The BTC that is on the move today appears to be from a single miner from 2011. Here is the transaction where they consolidated 180 mined reward blocks a few hops back. They had an address with 200k BTC in it at one point in 2011 (would be $22B today) which is a top 5 wallet ever.” — Conor Grogan, Director of Product, Coinbase. Analysis: Bitcoin’s Valuation Up 39.95% Amid Whale Movement Did you know? Dormant Bitcoin movements often spark short-term volatility, as seen in previous Satoshi-era activity which affected market sentiment but didn’t lead to immediate selling off. Bitcoin (BTC) stands at $108,230.80 with a market capitalization of approximately 2.15 trillion dollars and a market dominance of 64.62%, as per CoinMarketCap. Over the past 90 days, Bitcoin has seen a significant price increase of nearly 39.95%, reflecting its robust market position. Bitcoin(BTC), daily chart, screenshot…
Filed under: News - @ July 5, 2025 11:28 pm