The Mystery of the 9 Billion Dollar Bitcoin

Compilation: Vernacular Blockchain

On July 4th, while most Americans were busy preparing for barbecues and fireworks, the cryptocurrency world witnessed a more shocking event: Bitcoin, worth $9 billion, suddenly awakened after 14 years of silence.

Four wallets holding 80,000 Bitcoins—each Bitcoin originally purchased for less than $5—suddenly became active. This timing has provided fertile ground for various conspiracy theories, and almost everyone has come to the same conclusion: Satoshi Nakamoto, the founder of Bitcoin, has returned.

Spoiler Alert: This is not Satoshi Nakamoto. But the real story is even more intriguing.

Bitcoin Awakening

Imagine this: In 2011, you spent $5 on something and completely forgot about it. Today, you find out it’s worth over $100,000. Multiply that number by 80,000, and you’ve witnessed the most astonishing investment return in human history—up to 141 million%.

This is precisely the experience of this mysterious whale. When the price of Bitcoin was still negligible, someone accumulated a large amount of Bitcoin and then completely vanished. No trades, no movement, just the silence of the digital world, lasting for more than a decade.

The mobile mode of the wallet is crucial:

• First transfer: 20,000 Bitcoins (approximately $2.2 billion)
• Second transfer: 10,000 Bitcoins (approximately $1.1 billion)
• Subsequently, more transfers totaling 80,000 Bitcoins involved four wallets.

Why does everyone think it's Satoshi Nakamoto

When ancient Bitcoin wallets suddenly became active, the crypto community (especially discussions on platform X) erupted in an instant. The timing looks suspicious - July 4th, Independence Day in the United States. The transferred amount is enormous, and these wallets have not moved since the early days of Bitcoin, when only a few people held large amounts of Bitcoin.

The first reaction of the crypto community is to worry about the worst-case scenario: if Satoshi Nakamoto starts selling Bitcoin, the entire market could crash. After all, it is estimated that Satoshi holds about 1 million Bitcoins that have never moved. If these coins enter the market, it will trigger seismic shocks.

Association with Mt. Gox

But blockchain analysts are like digital detectives, quickly uncovering key clues. These wallets are directly linked to Mt. Gox - the infamous Bitcoin trading platform that collapsed in 2014 after losing 850,000 Bitcoins due to a hacking attack.

Mt. Gox handled about 70% of Bitcoin transactions at its peak. These dormant wallets are linked to Mt. Gox, much like finding fingerprints at a crime scene.

Roger Ver: The First Evangelist of Bitcoin

Through blockchain analysis, 99% of the evidence points to one person: Roger Ver, known as "Bitcoin Jesus" for his early enthusiastic promotion of Bitcoin. In Bitcoin's first decade, Ver was like an early Michael Saylor, promoting its potential while most people considered Bitcoin merely a "internet joke currency."

The connection between Ver and Mt. Gox is well known. He even filmed promotional videos for the trading platform, endorsing their legitimacy at their Tokyo headquarters. When Mt. Gox collapsed, Ver was one of many who lost a significant amount of Bitcoin.

Early Bitcoin Ecosystem

To understand the importance of this matter, one must look back at the early days of Bitcoin. That was a time when:

• The price of Bitcoin is less than 5 dollars
• Only a few trading platforms exist
• Most people have never heard of cryptocurrency
• The era where ordinary computers can mine

Veil is one of the few who truly believes in the potential of Bitcoin. He not only purchases Bitcoin but also promotes it, funds Bitcoin startups, and helps build the early ecosystem.

Why This Is Not Bad News

Unraveling the mystery of identity actually puts people at ease for the following reasons:

1. Not Satoshi Nakamoto: The mysterious creator holds approximately 1 million Bitcoins that remain untouched. If Satoshi Nakamoto starts to sell, that would be the real market-shocking news.
2. Roger Ver is known to hold a large amount of Bitcoin: This is not surprising. Ver has been openly discussing his Bitcoin holdings and promotional activities.
3. Show the Resilience of Bitcoin: Even when early whales made large transfers, the market did not crash. Bitcoin has far surpassed the early adopter phase.

A Bigger Picture

This event highlights a key evolution of Bitcoin. In 2011, when these wallets last moved, Bitcoin was merely an experiment for cryptographers and early tech enthusiasts. Today, it is regarded as "digital gold" by institutions, governments, and mainstream investors.

The scale of change is shocking:

• Rise from 5 dollars to over 100,000 dollars each.
• From amateur mining to industrial operations
• From technical curiosity to government reserve assets
• From a single trading platform (Mt. Gox) to hundreds of trading platforms

Significance for Current Investors

Roger Ver's story illustrates the immense opportunities and the patience required in crypto investing. Ver has experienced the darkest moments of Bitcoin—multiple crashes, regulatory uncertainties, exchange failures, and years of skepticism.

But this also indicates that we are still in the early stages. An analyst pointed out that the level of Bitcoin adoption is roughly equivalent to that of the internet in 1996. The internet experienced exponential growth after 1996, suggesting that mainstream adoption of Bitcoin has only just begun.

Trust Factors

There is another angle worth considering: in an era where voice cloning and deep forgery are prevalent, we need a trust system that does not rely on central authorities. The Bitcoin blockchain provides mathematical certainty—this is also why the United States seeks to hold 1 million Bitcoins and why companies are adding it to their balance sheets.

The Connection Between Circle and Stablecoins

When it comes to trust and adoption, Circle (stock code: CIRL) has recently gone public, with its stock price soaring from $31 to $242 in just 10 days. Circle issued the second largest stablecoin, USDC, and the key point is that most stablecoins operate on the Ethereum blockchain.

This creates an interesting dynamic: as the adoption of stablecoins surges (driven by government recognition), Ethereum becomes the pillar of infrastructure. It's like betting on railroad companies during the gold rush.

Looking to the Future

The transfer of whales on July 4 had little impact on the price of Bitcoin, and the market quickly recovered from the initial selling pressure. More importantly, this demonstrates the maturity of the cryptocurrency ecosystem.

We are about to迎来 the Congress "Crypto Week" (July 14 to 18), where major legislations such as the "Clarity Act" and the "Genius Act" will be voted on. Combining the growth of institutional adoption and the approval of ETFs, the foundation for the next phase of cryptocurrency growth is being formed.

The Real Lesson

Roger Ver's revelation tells us that the most successful early adopters of Bitcoin are not short-term traders or speculators — they are believers who have experienced everything. It takes a kind of faith that is rare in any investment to go from $5 to $100,000.

Whether you buy Bitcoin today or have held it for many years, the question is not whether it's too late. 95% of investors still do not hold Bitcoin, which indicates that we may still be in the early stages of this technological revolution.

This mysterious giant whale is not Satoshi Nakamoto's return – it simply reminds us once again that patience and faith in technology in the Bitcoin world often lead to almost unbelievable rewards.

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