Early Bitcoin Whale Awakens: 80,000 BTC Transfer Sparks Market Attention

After 14 years of silence, an early Bitcoin Whale has become active again, attracting widespread attention in the cryptocurrency market. On-chain data shows that 8 wallet addresses associated with this Whale have been successively activated, with a total of 80,009 Bitcoins being transferred to new addresses. The acquisition time of this batch of Bitcoins can be traced back to 2011, when the price of Bitcoin was only between $0.78 and $3.37.

At current market prices, the total value of this batch of Bitcoin is approximately $8.69 billion. It is worth noting that these Bitcoins have not yet been transferred to any exchange, but their movements have already triggered market tension.

The potential selling pressure scale is astonishing

The market's follow of this early Whale mainly stems from its enormous holding of Bitcoin. These 80,000 Bitcoins account for approximately 13.4% of a well-known company's total holdings, as well as 6.35% of the holdings of known founder addresses. Considering its extremely low cost price, this batch of Bitcoins has achieved an astonishing return of over 100,000 times.

From market data, the scale of this batch of Bitcoin far exceeds recent institutional buying and selling activities. For example, the total amount of Bitcoin purchased by listed companies in the second quarter of 2025 is approximately 131,000 BTC, while the net purchases by ETFs during the same period are around 111,000 BTC. Therefore, if this early Whale begins to sell off, the selling pressure it releases will far exceed any recent institutional activity and could have a significant impact on the market.

Whale identity sparks speculation

There are various speculations within the community about the true identity of this early Whale.

One perspective suggests that this could be an early miner. A trading platform supervisor expressed on social media that this Whale seems to be a single miner from 2011, who once owned a wallet address containing 200,000 Bitcoins. An analyst from a data analysis platform also supports this view, believing that these transactions can be traced back to early block rewards.

Another speculation points to an early evangelist nicknamed "Bitcoin Jesus." This individual started investing in Bitcoin in 2011 and played an important role in the early development of the Bitcoin ecosystem. The company he founded was one of the first businesses to accept Bitcoin payments and invested in several startup projects, laying the early groundwork for the Bitcoin ecosystem.

Market outlook uncertain

Regardless of the true identity of this early Whale, his next move could have a significant impact on the market. While we are unclear about the reasons that led him to hold this asset for such a long time, even the most steadfast Bitcoin believers may waver in the face of such enormous paper gains.

These 80,000 Bitcoins are like a "black swan" bomb that could detonate the market at any time, increasing market uncertainty. Market participants will continue to closely follow the movements of this early Whale to assess the potential impact on the market.