Bitcoin Whales Wake Up From 14-Year Slumber to Move Over $2B of BTC
July 4, 2025
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By Omkar Godbole|Edited by Sheldon Reback
Jul 4, 2025, 7:21 a.m.
- Two crypto wallets moved 20,000 BTC, valued at over $2 billion, to new addresses.
- The coins were originally received in 2011 when bitcoin was priced at 78 cents, now yielding a 140,000-fold return.
- The latest transfers show no signs of profit taking operation.
When a large whale moves in the sea, it creates ripples across the water. Similarly, when a large bitcoin
holder, often referred to as a crypto whale, moves its coins on-chain, that creates buzz on social media, prompting observers to wonder if it’s a prelude to a sale and downside price volatility.
Early Friday, two wallets, labelled “12tLs…xj2me” and “1KbrS…AWJYm,” moved 20,000 BTC, worth over $2 billion, to new addresses, according to data tracked by blockchain sleuth Lookonchain. The addresses received these coins on April 3, 2011, when bitcoin was priced at around 78 cents.
STORY CONTINUES BELOW
Today, BTC is over $109,000, implying a staggering 140,000-fold return for the two whale addresses, which means that they have a strong incentive to liquidate their holdings. Many long-term holders have been selling their coins ever since BTC crossed above $100,000 in May.
That said, the latest transfers were made to non-exchange addresses, which have gone silent since receiving these coins. So, it’s too early to conclude that the transfer operation is aimed at taking profits.
Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
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