In less than 48 hours, eight dormant Bitcoin whale wallets have reappeared in the market, moving more than $8.6 billion BTC. Notably, these wallets remained untouched since 2011 and are emerging altogether, fueling various speculations in the crypto market. Under the influence, Bitcoin price is also taking a toll.
Reasons Why Dormant Bitcoin Whale Wallets Are Waking Up
According to Arkham Intelligence’s X post, 8 Bitcoin whale wallets have moved $8.6 billion, which they have held for more than 14 years. Notably, each of these wallet addresses holds 10,000 BTC and was acquired for as little as $0.78 to $3.37.
Each token is worth $108.7k today, representing a 137,179x profit. Crypto experts have cited various reasons for this re-emergence, including government-linked speculation, profit taking, and more.
Profit-Taking at Bitcoin Price Peak
The biggest speculation is that as the BTC price nears its ATH, the whales are returning for historic profits after years of dormancy.
Some also suspect that these are attempts to create FUD in the market before pumping their prices for higher gains.
Security Updates or Recovery
Another potential reason includes speculation of whales’ attempts to recover lost sea phrases or updating the cold storage solution. The rising cybersecurity scams and hacks increase the possibility of such odds.
Today, a total of 6 Satoshi Era $BTC wallets have woken up and moved their holdings.
Each wallet had 10,000 Bitcoin and for all, the last time of activity was in 2011.
What could be the possible cause of this?
-Someone has found their lost seed phrase.
– A whale is taking… pic.twitter.com/iH7M3nPwGF— Mutua B (@Mutuabrian_M) July 4, 2025
Government-Linked Speculation
A growing rumor is that the Government is associating with these dormant whales to receive their contribution for establishing a strategic Bitcoin Reserve. On the same note, rumors are that it’s the government itself that is moving these tokens following Trump signing the “Buy Beautiful Bill (BBB)”
“My guess is the US Govt is buying out the whales to establish a Bitcoin reserve. Coincidence it’s after the BBB is signed by Trump?” says crypto investor Don.
Hack or Theft
Crypto analyst Conor has hinted at the possibility of a hack or compromised private key for these BTC whale wallets. He notes that a single BCH test transaction was made before moving the $8.6 billion BTC.
Even a name is added behind these whales; Roger Ver is alleged to be the whale. Experts note that the timeline of his involvement with Bitcoin in 2011 matches with whales’ buying. Moreover, he has been recently bailed out from a Spanish prison on June 5 and has billions worth of Bitcoin to move.
However, these are just speculations for now.
Something Big Happening in the Crypto Market Next?
The Bitcoin whale movement came ahead of the trending Crypto Week, discussing prominent bills. Experts believe the passage of these crypto bills could fuel the bull run. Similarly, the massive whale wallet awakening also hints at bigger market moves.
Even the stock market is flourishing, and the market sentiments show extreme greed. The institutional capital is also rotating rapidly, and the crypto ETFs are witnessing high inflows. Last but not least, Standard Chartered and other experts predict Bitcoin price hitting $200k and higher by 2025 end, so the crypto market is set to witness something big.
Frequently Asked Questions (FAQs)
Approximately $8.6 billion worth of Bitcoin was transferred from eight wallets.
Speculations have pointed towards Roger Ver due to his 2011 involvement with BTC and recent release from a Spanish prison.
Experts speculated that they may be intending to make a heavy profit, updating cold storage, or it could be a potential hack.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.
Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry.
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