Over $8 billion in Bitcoin was mined during the earliest day of cryptocurrency known as the “Satoshi Era,” and was handed over on Friday at the largest relocation ever recorded.
The eight wallets, which have been on hiatus since 2011, moved 10,000 BTC to their new Segwit address on Friday, more than 14 years after receiving the BTC. The identity of the wallet is unknown, including ownership.
The incident sparked speculation and curiosity in the crypto community. Coinbase director Connor Grogan, who passes through “Connor” with X, has recently responded to rumors surrounding one of the mystical speeches that shifted 10,000 bitcoins.
X User claimed that one of the wallets that moved 10,000 BTC (value exceeding $1 billion) was mentioned in the 2013 forum. The user posted a screenshot of an old forum post, claiming that he sent 1.5 btc to a friend using the same wallet address.
However, Grogan responded quickly, calling the claim a fake. “Guy made it,” Grogan posted to X.
Guy Made It Up, address Pic.twitter.com/komyf7kzqs, there were no 1.5 BTC transactions
– Connor (@jconorgrogan) July 5, 2025
The Coinbase Director shares a screenshot of blockchain data that supports this assertion, indicating that no such transaction occurred at the address.
New updates are coming
On Friday, eight Bitcoin wallets shifted 10,000 BTC each, totaling 80,000 BTC ($8.6 billion) attracted attention from the crypto community. The moved coins belong to the rarest class of BTC. It was mined or traded during the “Satoshi era.” This was the launch of Bitcoin in 2009 and 2011, when the founder of the pseudonym was still active online.
Arkham, an on-chain intelligence platform, speculated that all wallets appear to be owned by the same entity. However, no individual or company has publicly claimed to own a wallet.
Arkham recently tweeted an update on the situation, bringing the speculation that Bitcoin OG Whales are selling it. “The $8 billion transfer could be linked to the transition from one address to a BC1Q address. There is no indication that this whale is selling Bitcoin,” Arkham said.
