A Bitcoin wallet active during the network's earliest days in 2009 and 2010 has moved 2,650 BTC, worth roughly $203 million at current prices near $77,000, to institutional trading desks FalconX and Cumberland.
Blockchain analytics firm Onchain Lens flagged the transfers on May 25. The coins were sent in three separate transactions from addresses tied to block rewards from Bitcoin's first two years.
FalconX and Cumberland are over-the-counter desks designed for large institutional trades. Their use suggests the seller sought to avoid impacting the spot market on public exchanges like Coinbase or Binance.
This is not an isolated event. In January 2026, a different Satoshi-era wallet sent 2,000 BTC to Coinbase, a move that also raised market concerns. Meanwhile, US spot Bitcoin ETFs have experienced over $1.5 billion in outflows since May 7, and on-chain data shows long-term holders becoming increasingly active.
The wallet still holds approximately 6,000 BTC, valued at around $462 million. If those coins move to similar venues, it would signal a systematic reduction of exposure by this early miner.