What to know:
- A security upgrade may have prompted the transfer of over $8 billion in bitcoin from dormant Satoshi-era wallets to modern addresses. 🛡️
- The funds were moved to bc1q-style addresses, which offer enhanced security and efficiency compared to older formats. 🚀
- There is no evidence that the bitcoin is being sold, suggesting the move was a precautionary security measure. 🕵️♂️
A wallet security upgrade could be the reason why a long dormant Satoshi-era wallet moved over $8 billion worth of bitcoin last week, according to on-chain analytics firm Arkham. 🤔
On-chain data shows eight wallets, each holding 10,000 BTC since 2011, moved their funds to modern bc1q-style addresses, a more secure and efficient format than the older legacy 1prefix addresses. 🤑
BILLIONAIRE BITCOIN WHALE UPDATE
Yesterday’s $8 billion transfers were possibly related to address upgrades, moving from 1- addresses to bc1q- addresses.
There are no indications that this whale is selling Bitcoin.
— Arkham (@arkham) July 5, 2025
The new addresses are native SegWit formats that offer lower fees, improved transaction efficiency, and stronger protection against certain types of exploits. 🛠️
the timing may be random. The real owner of the 80,000 BTC saw the OP_RETURN messages and moved the funds as a precaution,” he added alongside other observations. 🤷♂️
Some interesting alpha regarding the 80,000 BTC transfer that occurred two days ago:
A few days prior to the 8 transfers of 10,000 BTC each ($8B transfer), someone sent messages to the corresponding 8 addresses using the OP_RETURN field. The messages included:
– “LEGAL NOTICE:…
— Charles Guillemet (@P3b7_) July 7, 2025
OP_RETURN is a Bitcoin function that lets users attach short messages or data to a transaction, without affecting the transfer of actual coins. 📨
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2025-07-07 16:29