Crypto Currents: Billion-dollar bitcoin wallets awaken after 14 years

As ancient Bitcoin wallets containing billions of dollars spring to life and major corporations make landmark investments in digital infrastructure, the crypto landscape is undergoing a seismic shift. Stay up on the crypto news that matters with “Crypto Currents,” daily from The Fly. Join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.

BILLIONS ON THE MOVE

The crypto community was captivated this past Friday as a “Satoshi-era” Bitcoin wallet, dormant for over 14 years, suddenly moved 10,000 BTC worth over $1B. On-chain analysts report that several other wallets from the same early era, likely controlled by the same entity, also transferred billions in holdings to new private addresses, sparking intense speculation about the identity and motives of the mystery whale. In a separate, major move, Japanese investment firm Metaplanet (MTPLF) announced today it has acquired an additional 2,205 Bitcoin. The purchase brings its total holdings to 15,555 BTC, a treasury now valued at approximately $1.7B.

SUSTAINABLE MINING AND METAVERSE GAMING

In a landmark move for the industry, Tether has announced a $1B partnership with agro-industrial giant Adecoagro (AGRO) to build one of the world’s largest and most sustainable Bitcoin mining farms. The initiative, based in Uruguay, will leverage the nation’s surplus renewable energy. In the gaming world, Floki (FLOKI) has officially launched the mainnet for its Valhalla gaming metaverse. The launch of the play-to-earn game marks a significant step for the project as it expands its utility beyond its memecoin origins.

REGULATORY RADAR AND SECURITY RISKS

All eyes are on Washington as the U.S. House of Representatives prepares for “Crypto Week,” scheduled to begin next week on July 14th. Lawmakers are expected to vote on key legislation aimed at creating a clearer regulatory framework for digital assets. The focus on regulation comes as a new report from security firm Certik highlights the persistent risks in the space, revealing that nearly $2.5B was lost to hacks and scams in the first half of 2025 alone.

PRICE ACTION

As of time of writing, bitcoin (BTC) was trading around $109,200, while ethereum (ETH) was trading near $2,580.