The Bitcoin community has been sent into a spin on this July 4 holiday after five huge Bitcoin wallets, tied to the same owner, were activated after 14 years of dormancy, with the diamond-handed holders’ wallets being worth more than $5 billion at current prices.
Blockchain analytics firm Lookonchain flagged that, as of mid-afternoon in Europe, the Bitcoin OG has activated five of its eight wallets, moving over 50,000 BTC, valued at more than $5 billion. The other three wallets remain dormant.
A Bitcoin OG holding at least 80,009 $BTC($8.69B) woke up after 14+ years of dormancy and transferred out 40,000 $BTC($4.35B) today!
This OG controls about 8 wallets, 2 of which received 20,000 $BTC($15,600 at the time, $2.18B now) on April 2, 2011, when the price of $BTC was… pic.twitter.com/F8jULZ6Ee7
— Lookonchain (@lookonchain) July 4, 2025
Biggest Pair Of Diamond Hands In History? Bitcoin OG Has Held BTC Stack Since It Was Trading For Under $1
As Bitcoin was worth just $0.78 at the time the OG came into his stack, and BTC is currently trading for around $107,800, the value of the eight wallets stands at more than $8 billion in unrealized profit.
Starting in the early hours of this morning, Lookonchain posted to X as the Bitcoin OG began moving funds from one of the dormant wallets, followed shortly after by the activation of another linked wallet.
Both wallets moved all 10,000 BTC out, only to have another two connected wallets wake up and transfer out 10,000 BTC from each other just a few hours later. Shortly after, a fifth wallet, dormant for 14 years, also made the same 10,000 Bitcoin transfer out.
Lookonchain has connected this Bitcoin OG to eight wallets, and as of right now, five of them have been activated, all transferring 10,000 BTC to a new wallet, totalling north of $5 billion.
As BTC was trading for around $0.78 14 years ago when these wallets were funded, this diamond-handed trader has sat on over 140,000x returns to date.
Right now, the Bitcoin OG hasn’t made any further moves with their stack, either from the three remaining dormant wallets or from the new wallet where the BTC was sent for consolidation.
The move has spooked the crypto community on social media, with many believing a big dump is imminent and the whale is preparing to offload in anticipation. However, it is all speculation until the OG makes a move.
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OG Bitcoin Whales Have Woken Up In 2025 Massively Compared To 2024
Between January and March 2025, over 62,800 dormant $BTC (inactive for 7+ years) suddenly moved — more than double the 28,000 $BTC moved in early 2024.
Big wallets waking up… something's brewing. pic.twitter.com/0ie44WuxUN
— Ak47♛ (@HolaItsAk47) April 26, 2025
This year has been a busy one for dormant Bitcoin whales. Onchain School, which provides blockchain analysis, reported earlier this year that more than twice as many long-dormant Bitcoin wallets were activated in the first three months of 2025 compared to the same period in 2024.
“On-chain data reveals that 62,800 $BTC aged over 7 years were spent between January and March 2025, versus 28,000 $BTC during Q1 2024 — marking a 121% increase in the movement of old coins,” Onchain School reported on the CryptoQuant platform.
Regarding the latest Bitcoin transfers from the 80,000+ BTC whale, many online are speculating that it could be someone linked to Bitcoin founder Satoshi or even Silk Road founder Ross Ulbricht.
Ulbricht was pardoned and released from prison by President Trump earlier this year after serving 12 years in prison. It has long been suggested that the Silk Road founder had a sizeable crypto stash from his days running the dark web marketplace, making him a plausible candidate as the owner of the $8 billion+ BTC fortune.
Whether it was tied to the news of these dormant accounts moving billions in Bitcoin around, BTC dropped 1% in price as the news began spreading but has since stabilized just under $108,000 as we head into the weekend.
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