Mystery Whale Moves $5 Billion in Bitcoin After 14 Years

The cryptocurrency market is buzzing after a massive transaction involving 80,000 bitcoins (worth approximately $5 billion) occurred on Friday. These coins had been dormant since 2011, leading to speculation about their origin and the identity of the owner.

While the funds weren’t sent to exchanges, the sheer size of the transaction caused a slight dip in Bitcoin’s price, down 1.8% over the past 24 hours. The community is now trying to unravel the mystery behind this movement, with several potential candidates emerging.

Who Could Own Such a Fortune?

Forbes estimates that there are fewer than 20 cryptocurrency billionaires globally. However, many of them made their fortunes through their own businesses, making them less likely to be the owner of these long-held bitcoins. Some of the most prominent figures in the crypto space include:

  • Paolo Ardoino (Tether)
  • Jean-Louis van der Velde (Bitfinex)
  • Michael Saylor (MicroStrategy)
  • Brian Armstrong (Coinbase)
  • Giancarlo Devasini (Tether)
  • Changpeng Zhao (Binance)

Other notable individuals close to this wealth bracket include Justin Sun (Tron), Chris Larsen (Ripple), Stuart Hoeger (Tether/Bitfinex), and Michael Novogratz (Galaxy Digital). However, their wealth primarily stems from their companies, not direct Bitcoin holdings.

The Winklevoss twins, Cameron and Tyler, are known to have purchased over 100,000 bitcoins between 2012 and 2013. However, since the wallets in question have been inactive since 2011, they are unlikely to be the owners.

Roger Ver: A Prime Suspect?

With many prominent figures ruled out, the community has turned its attention to individuals outside the usual list of crypto billionaires. One name that has surfaced repeatedly is Roger Ver, often referred to as the “Bitcoin Jesus.”

Ver was recently arrested in Spain on charges of tax evasion related to approximately 131,000 bitcoins. Despite his involvement with Bitcoin Cash (BCH), Ver has openly stated that he holds a significant amount of Bitcoin (BTC). Given his current freedom, he is a plausible candidate.

“Another 10k moved, that’s a total of 70,000 BTC, all that remains to be moved is this address ‘1f1miYFQWTzdLiCBxtHHnNiW7WAWPUccr’ containing 10,009 BTC and that’s a wrap for today. I’m 99.99% sure it’s Roger Ver.” – Sani, crypto analyst.

The Hacker “Gummo” Enters the Fray

Another potential owner is a hacker known as “Gummo.” In a 2022 interview, Gummo claimed to possess approximately 176,000 bitcoins (worth around $7 billion at the time), acquired through mining. While there’s no concrete evidence to support this claim, Gummo’s story aligns with the profile of the addresses in question.

Gummo stated that he secured a $1 million investment to mine Bitcoin, accumulating nearly 80,000 bitcoins within 18 months. He maintains that he still holds a substantial amount of Bitcoin.

“I only have sold a small amount, I still own over 160k bitcoin.” – Gummo

Further posts suggest that Gummo could be the owner of these addresses.

“I don’t have any friends in the cryptocurrency world its my choice. I walked away from bitcoin in 2012.” – Gummo

This statement could explain why the wallets have been inactive since 2011. However, many in the community are skeptical of Gummo’s claims, as he only emerged in the crypto scene around 2020.

Early Developers and the “Pizza Guy”

It’s also possible that the owner is one of Bitcoin’s early developers who has held onto their coins for all this time. This includes Laszlo Hanyecz, famous for buying two pizzas for 10,000 bitcoins. Hanyecz was also responsible for introducing GPU mining in 2010.

Satoshi Nakamoto, Bitcoin’s creator, expressed concern about this innovation, fearing that computing power could become concentrated in the hands of a few.

“I don’t mean to sound like a socialist, I don’t care if wealth is concentrated, but for now, we get more growth by giving that money to 100% of the people than giving it to 20%.” – Satoshi Nakamoto

Therefore, it’s possible that the owner is an early Bitcoin miner with a large GPU mining operation, whether their name is known or not. The identity of the whale remains a mystery, fueling speculation and intrigue within the cryptocurrency community.


Stay ahead of the curve in the fast-paced crypto world – explore the latest updates and trends at Cryptonewsfeeds.com.
© Copyright 2025 Crypto News Feeds