Coin WorldFriday, Jul 4, 2025 6:28 am ET

1min read

Two Bitcoin whales from 2011 have moved a total of 20,000 BTC, valued at approximately $2.81 billion, to new addresses. This significant transaction involved two wallets that originally purchased 10,000 BTC each for a mere $7,805 in April 2011, when the price of Bitcoin was around $0.78 per coin. The move comes at a time when the global digital assets market experienced a minor pullback, with Bitcoin unable to sustain the $109,000 mark. The timing of this transaction coincides with the upcoming "Crypto Week," during which US House Republicans plan to push three major crypto bills that could reshape the American crypto landscape.

The first wallet, identified as 12tLs9c9Rs, moved its 10,000 BTC holdings, now worth over $1 billion, to a new address. Shortly after, a second wallet, 1KbrSKrT3Ge, transferred another 10,000 BTC, bringing the total amount moved to $2.18 billion. This represents a staggering 140,000x return on the original investment of $7,805. However, it is not confirmed whether these two wallets are linked to a single person or entity. Another wallet from the same era also transferred 10,000 BTC, valued at $1.09 billion, after being dormant for over 14 years.

The move by these Bitcoin whales comes as the market remains cautious. Despite Bitcoin rallying past $110,000 overnight and then pulling back to $108,000 levels, the market seems divided between bullish momentum and macroeconomic caution. The price of Bitcoin has increased by over 89% in the past year, and at the time of the transaction, it was trading at an average price of $108,895, just shy of its all-time high of around $112,000.

The legislative push by US House Republicans includes the CLARITY Act, which focuses on market structure, the Anti-CBDC Surveillance State Act, and the GENIUS Act, which aims to regulate stablecoins under a federal framework. These bills are part of a broader effort to align US crypto regulation with a pro-business platform that emphasizes privacy, decentralization, and market freedom. Republican leaders have stated that their goal is to make the US the global leader in crypto while protecting financial sovereignty in the face of growing global CBDC adoption. This legislative effort is seen as a historic opportunity to safeguard Americans' right to financial privacy.