Satoshi Era Bitcoin Transaction Worth $8.6 Billion Shocks Crypto Market!

Jakarta, Pintu News – On Friday, a major event took place in the crypto world with the Satoshi-era transfer of Bitcoin totaling $8.6 billion. This is the largest transfer ever recorded and has sparked various speculations among the crypto community.

Early Era Bitcoin Wallet Transfer

More than $8 billion of Bitcoin (BTC) mined in the early days of the cryptocurrency’s launch, known as the Satoshi era, has been moved. Eight wallets that have been dormant since 2011 were involved in the transfer, with each wallet moving 10,000 BTC to a new SegWit address.

The identity of the owner of this wallet remains a mystery and has attracted great attention from crypto observers and market participants. Not only does this move set the record for the largest ever, but it also raises questions about the purpose behind the move. Speculation is rife, but no official claim has been made by any individual or company claiming to be the owner of the wallet.

Also Read: Can XRP Soar 35,000%? Check out the Supporting Factors!

Coinbase Director’s Reaction and Explanation

Conor Grogan, director of Coinbase, has given a response to the rumors circulating regarding one of the wallet addresses involved in this move. A user on platform X claims that the wallet was mentioned in a 2013 forum post.

However, Grogan quickly refuted the claims, stating that the information was false and that no transaction of 1.5 BTC had ever taken place to or from the address. Grogan also shared a screenshot of blockchain data showing that no such transaction had ever taken place. This shows the importance of information verification in the crypto world, where rumors and speculation can quickly circulate and influence the market.

Speculation and Market Analysis

On-chain intelligence platform Arkham has provided an update on the situation. They speculate that all the wallets appear to be owned by the same entity and suggest that this massive move may be related to an address update, from addresses starting with “1-” to addresses starting with “bc1q-“.

According to Arkham, there is no indication that the owners of these wallets are selling their Bitcoin (BTC). This update provides some relief to a nervous market, given the large amount of Bitcoin (BTC) being moved. A deeper understanding of the motives behind these removals is still highly anticipated by the crypto community.

Conclusion

The Satoshi-era Bitcoin (BTC) transfer shows how dynamic the crypto market is and the importance of transparency and accurate information. Not only did this incident draw attention from investors and analysts, but it also emphasized the importance of security and technological updates in the crypto ecosystem.

Also Read: Michael Saylor and a New Strategy Towards 600K Bitcoin (BTC), Can It Be Replicated?

That’s the latest information about crypto. Follow us on Google News for the latest crypto and blockchain technology updates. Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now.

Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• U.Today. Satoshi-Era BTC Wallet Rumors Shut Down by Coinbase Director: Details. Accessed on July 7, 2025