Bitcoin : $1B bitcoins on the move: MtGox vs SilkRoad origin and BTC price impact discussed
**Preamble**: it seems that my post was [censored and removed](https://www.reddit.com/r/Bitcoin/comments/9dmkl9/1b_bitcoins_on_the_move_mtgox_vs_silkroad_origin/) on r/bitcoin… from now I will only publish my articles on r/btc and crosspost it. Freedom and freespeech matter to me.
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This is the 4th post of a series of articles dedicated to investigate $1B worth of bitcoins (111,114 BTC/BCH/… BXX) that were dormant since 2014 and started moving actively. The BTC coins were originally located at this address ([1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a](https://www.blocktrail.com/BTC/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a)).
* The facts that part of this funds (>13%) have been transferred in the past month to Bitfinex, Binance and Bitmex exchanges is discussed [here](https://www.reddit.com/r/Bitcoin/comments/9ceb5v/1b_bitcoins_on_the_move_owner_transfers_100m_to/).
* The origin of the bitcoins was originally discussed [here](https://www.reddit.com/r/Bitcoin/comments/9bfnff/near_1b_are_currently_on_the_move_from_a_silkroad/).
* A deep-dive into the wallet activity was discussed [here](https://www.reddit.com/r/Bitcoin/comments/9bwsaf/investigating_the_1b_bitcoins_on_the_move_from_a/).
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Today I am writing a short update to discuss the origin of the funds and some events that could be related both to this wallet and yesterday’s price crash.
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**Wallet’s origin**
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This question has been discussed a lot by the crypto community in the past year.
Here is a summary of the most probable hypothesis for the [1933p](https://www.blocktrail.com/BTC/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a) wallet’s origin:
1. a SilkRoad user or DPRs wallet per this post: [https://bitcointalk.org/index.php?topic=310600.0](https://bitcointalk.org/index.php?topic=310600.0)
2. a MtGox cold wallet that has been seized or is still owned by MtGox: in fact the wallet funds moved in March 2014 right after MtGox filed for bankruptcy one month earlier in February 2014; these movements dates are really similar to the [200,000 lost coins “found” by Karpeles](https://www.theguardian.com/technology/2014/mar/21/mtgox-missing-70m-bitcoin) which moved March 7th, 2014 ([1dda0f8827518ce4d1d824bf7600f75ec7e199774a090a947c58a65ab63552e3](https://blockexplorer.com/tx/1dda0f8827518ce4d1d824bf7600f75ec7e199774a090a947c58a65ab63552e3)), just 2 days before the movements on the wallet we are talking about here.
3. a whale wallet since the major part of the 111,111 coins are coming from a very old deposit of 37,421 coins processed on June 21st, 2011 making this an early adopter’s wallet ([70d46f768b73e50440e41977eb13ab25826137a8d34486958c7d55c5931c6081](https://www.blocktrail.com/BTC/tx/70d46f768b73e50440e41977eb13ab25826137a8d34486958c7d55c5931c6081))
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Wizsec, a prominent Bitcoin security expert, seems to be pretty sure that the wallet belongs to a MtGox hodler and early investor, who is not a DPR or a SilkRoad user, per his Twitter post: [https://twitter.com/wizsecurity/status/1037030003068653569](https://twitter.com/wizsecurity/status/1037030003068653569)
Finally, Wizsec and I agree that this wallet is not CSW`’s wallet despite it is mentioned in several court documents. Wizsec spent a lot of time debunking CSW’s ownership claims earlier this year: [https://twitter.com/wizsecurity/status/968337084837781504](https://twitter.com/wizsecurity/status/968337084837781504)
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What do you think about this wallet origin?
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**BTC price crash**
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Also, I wanted to report some events that could be related to this [1933p](https://www.blocktrail.com/BTC/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a) wallet activity:
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* $100M USDT were [transferred](https://omniexplorer.info/address/1NTMakcgVwQpMdGxRQnFKyb3G1FAJysSfz) (reported by u/whalecheetah) while the 1933f wallet owner was in the process of transferring approximately the same amount to several exchanges.
(update) Here is a link provided by u/jesquit: [https://www.reddit.com/r/btc/comments/9cj208/bitcoin_surge_expected_as_100m_tether_goes_to](https://www.reddit.com/r/btc/comments/9cj208/bitcoin_surge_expected_as_100m_tether_goes_to)
* [10,000 BTC](https://www.blocktrail.com/BTC/tx/f2465a1225531d33696380f06034499a52d707f85ee6ae1419885980011f6e25) buy order was filed last night on [Bitmex](https://www.blocktrail.com/BTC/address/3BMEXqGpG4FxBA1KWhRFufXfSTRgzfDBhJ) with 8,030 BTC transferred from a [Bitfinex user wallet](https://www.blocktrail.com/BTC/address/1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g) while the [1933p](https://www.blocktrail.com/BTC/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a) wallet owner transferred approximately the same amount of BTC to Bitfinex since August, 24th.
(update) Here is the actual BTC transaction: [https://www.blocktrail.com/BTC/tx/f2465a1225531d33696380f06034499a52d707f85ee6ae1419885980011f6e25](https://www.blocktrail.com/BTC/tx/f2465a1225531d33696380f06034499a52d707f85ee6ae1419885980011f6e25) ,
with its Bitfinex inputs:
[1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g](https://www.blocktrail.com/BTC/address/1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g) (3,000)
[1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g](https://www.blocktrail.com/BTC/address/1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g) (2,000)
[1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g](https://www.blocktrail.com/BTC/address/1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g) (2,000)
[1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g](https://www.blocktrail.com/BTC/address/1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g) (1,029.98)
and output to Bitmex:
[3BMEXqGpG4FxBA1KWhRFufXfSTRgzfDBhJ](https://www.blocktrail.com/BTC/address/3BMEXqGpG4FxBA1KWhRFufXfSTRgzfDBhJ) (10,000).
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Was this deal prepared or was the buyer a bitcoin angel?
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In the light of September 6th price crash, do you think the $100M transferred to the exchanges caused it?
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https://i.redd.it/npazsakt1uk11.png
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