After 14 years of total silence, one of Bitcoin’s oldest and largest wallets has suddenly sprung to life. The wallets transferred $1.16 billion worth of BTC in a series of strategic moves that have crypto watchers glued to the chain, according to @ai_9684xtpa on X, formerly Twitter.
July 16: $1.16 billion in BTC hits the blockchain
A legendary whale wallet, bc1qklv, originally holding 80,000 BTC since the earliest days of Bitcoin, moved 10,000 BTC on July 16. That’s roughly $1.16 billion at current prices. It’s the latest in a string of transactions that began just two days earlier.
Not a one-time splash: 40,000 BTC moved in one day
In total, on July 16, 40,000 BTC was moved, and what makes this even more compelling is that 40,000 BTC reportedly went to Galaxy Digital, a major institutional player, suggesting this was more than just routine activity.
Where is it going? Not to exchanges
On-chain sleuths note that the BTC hasn’t hit major exchanges yet. Instead, the coins appear to be moving to cold storage wallets or custodial platforms, hinting at a potential portfolio restructuring or institutional-grade reallocation. Analysts say this doesn’t look like a dump, at least not right now.
No crashes yet, but markets are watching
Despite the scale of the moves, markets haven’t panicked. BTC price action remains relatively stable, likely because the coins haven’t been listed for sale. This follows a familiar pattern, off-exchange whale moves usually don’t trigger volatility unless they show signs of liquidation.
Why now? The mystery remains.
So far, no entity has claimed ownership of the wallet. Crypto Twitter is speculating everything from Satoshi-adjacent activity to long-term holders rotating assets. With no official comment, the space is left watching and waiting.
