Bitcoin held in wallets linked to the original Silk Road darknet market was suddenly moved this week, ending a dormancy period that lasted over a decade. Hundreds of wallets funneled their holdings into one address.
According to Arkham Intelligence, the transaction involved 312 wallets sending $3.14 million in BTC to address “bc1q…ga54.” The motivation for the transfer is a mystery, and the associated wallets continue to hold approximately $41.3 million in Bitcoin.
The movement was highlighted by pseudonymous crypto researcher “0xG00gly,” with Conor Grogan of Coinbase noting the connection to his earlier findings on funds tied to Ross Ulbricht.
Ulbricht, the Silk Road creator, was pardoned in full by US President Donald Trump after serving multiple life sentences.
In a speech this May, Ulbricht framed technology and decentralization as tools for human empowerment. His platform, while controversial, was a key early driver of Bitcoin’s practical use case as a medium of exchange.
