Satoshi Era Whale Investors Awaken… 80,000 Bitcoins Moved with a Return of 5.4 Million%

In the so-called 'Satoshi era', an investor who was active during that time has moved 118 trillion won worth of Bitcoin to another wallet after maintaining it in a dormant state for 14 years, drawing attention from the virtual asset industry. The market is watching to see if this transfer will trigger the largest transaction in the industry's history. According to financial sources on the 6th, American virtual asset specialized media such as CoinDesk and CoinTelegraph reported that on the 4th (local time), transactions occurred where 10,000 Bitcoins were moved from each of 8 wallets to another wallet. CoinDesk, citing blockchain analysis company Arkham, reported that "it is estimated that the same individual owns all these wallets". The value of the 80,000 Bitcoins held by this individual amounts to $8.6 billion, which is 11.8 trillion won in Korean currency. However, the owner of this wallet has not yet been identified. A notable point is that these 80,000 Bitcoins had not been traded for 14 years since 2011. Foreign media estimate that the average acquisition price of these Bitcoins was around $2. Considering the current Bitcoin price of around $108,000, the return would be approximately 5.4 million percent. The market interprets this as the largest scale movement of Bitcoins dormant for over 10 years. The virtual asset industry is paying attention to how this transaction might affect the future Bitcoin market. Generally, long-dormant Bitcoins entering the market are interpreted as a negative signal. Particularly, the market notes that these 80,000 Bitcoins were mined around 2011 when Satoshi Nakamoto was active. Nakamoto is known as the developer who introduced Bitcoin in 2009 but ceased activities around 2011. The period of 2009-2011 when Nakamoto was active was also when the virtual asset market was blossoming, referred to as the 'Satoshi era'. CoinDesk analyzed that "wallets from this period are considered the holy grail of the virtual asset industry" and that "mass selling from such wallets could be interpreted as early virtual asset believers and miners changing their market attitude". Indeed, Bitcoin, which had surpassed $110,000 on the 3rd (US time), dropped to around $107,000 when news of the 80,000 Bitcoin wallet movement spread. Subsequently, Bitcoin has slightly rebounded and maintains the $108,000 level. However, there are also observations that this wallet movement is not related to mass selling. Arkham interpreted it as transferring Bitcoin to a wallet with enhanced security. Arkham analyzed that "this transaction does not imply selling Bitcoin". Speculation continues about the wallet's owner. Some virtual asset market officials suggest this transaction might be related to Satoshi Nakamoto himself. There are also interpretations that it could be Arthur Britto's wallet, Ripple's co-founder. Connor Grogan, Coinbase's Chief Product Officer, also noted that "though with a very small probability, the recent $8 billion Bitcoin transaction could be due to hacking or private key leakage".