$2 Billion in Bitcoin Moves After 14 Years of Silence

Two Bitcoin wallets from 2011 moved 20,000 BTC worth over $2 billion after staying inactive for 14 years.

On-chain analytics firm Lookonchain tracked the transfers, which represent some of the largest movements from dormant early wallets in recent years. The original purchases were made when Bitcoin was worth less than $1, compared to current prices above $100,000. The wallets remained untouched through multiple Bitcoin bull and bear cycles.

The first wallet was created on April 3, 2011, when Bitcoin traded at $0.78. It held 10,000 BTC purchased for under $7,805 and had no outgoing transactions until July 4, 2025. The second wallet also held 10,000 BTC from 2011 and transferred its entire balance to a new legacy-format address on the same day.

Both transfers happened while Bitcoin traded near $110,000 per coin. The timing raised questions about whether early investors were taking profits, enhancing security, or whether the private keys had been compromised. The wallets date from Bitcoin's early years between 2009 and 2011, when many addresses used the legacy format. 

CryptoQuant data shows Coin Days Destroyed (CDD) rising from 10 million to 17.5 million in Q2 2025 before dropping back to about 11 million by early July 2025. The metric measures how long coins stayed idle before being spent.

CDD helps analysts understand the age of moved coins and their potential market impact. When old coins suddenly become active, it can signal changes in long-term holder behavior or market sentiment among early adopters. Large spikes often indicate significant movements of old coins, which can create selling pressure when they enter circulation.