Lookonchain reported in a July 17 post on X that a long‑dormant Bitcoin holder has moved 40,192 BTC
$120,129.78
from its original stash, worth about $4.77 billion, into a new wallet.
The analytics group noted the owner “may continue to sell”, which raises the possibility that more of the coins could enter circulation soon.
This activity followed a transfer on July 15, when the same holder sent 40,009 BTC, valued at around $4.7 billion, to Galaxy Digital, according to blockchain data from Nansen.
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Galaxy then passed 6,000 BTC from that batch to Binance
$21.69B
and Bybit
$6.21B
, which suggests that at least part of the holdings might be sold on the open market.
Together, these two transactions have depleted the BTC holder’s original eight wallets, which had remained untouched for over 14 years.
Those wallets were first funded in Bitcoin’s early days. In April 2011, two of them each received 20,000 BTC when the price was just $0.78 per coin. A month later, six more wallets belonging to the same owner were credited with 60,009 BTC at roughly $3.37 each.
Lookonchain first flagged the renewed activity on July 4 by noting that this was one of the largest early Bitcoin holdings ever observed. At the time of the initial transactions more than a decade ago, the entire stash was worth less than $250,000.
Meanwhile, as Bitcoin’s price passed $120,000 on July 13, Satoshi Nakamoto, Bitcoin’s anonymous creator, reached a new milestone in wealth. What is his net worth? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
