Over 300 Dormant Silk Road BTC Wallets Move $3.14M; ~$41.3M Remains
More than 300 long‑dormant Bitcoin (BTC) wallets tied to the Silk Road darknet marketplace reactivated, transferring about $3.14 million in BTC on December 10, 2025 to a single unidentified bech32 address, while roughly $41.3 million linked to Silk Road‑era wallets remains untouched. Blockchain researchers, including Arkham Intelligence, attributed some 312 addresses to Silk Road holdings that had been inactive for over a decade. The movements follow Ross Ulbricht’s full pardon in January 2025, but investigators say there is no definitive on‑chain evidence linking the recent transfers directly to him. Market commentary notes that decade‑old wallet awakenings are often treated as whale activity and can affect short‑term BTC liquidity and price if funds are sold or routed to OTC desks. Conversely, holders sometimes move assets into cold storage or longer‑term custody rather than sell immediately. Traders should monitor subsequent on‑chain transactions, any consolidations or transfers to known exchange or OTC addresses, and alerts for large sell orders — these will indicate whether the event increases circulating supply and near‑term volatility. Primary keywords: Bitcoin, Silk Road, dormant wallets, whale movement, on‑chain activity.
Neutral
The immediate market impact is likely neutral. The moved amount (~$3.14M) is small relative to Bitcoin’s total market capitalization and the larger Silk Road holdings (~$41.3M) remain largely stationary, limiting immediate supply shock. Historical patterns show dormant‑wallet awakenings can cause short‑term volatility if funds are sold into markets or routed to exchanges/OTC desks. However, transfers to a single unidentified bech32 address — without onward movement to exchanges — suggest consolidation or cold storage is possible rather than an imminent sell‑off. Traders should treat this as a watch‑item: short‑term risk exists if follow‑on transactions indicate liquidity provision or exchange deposits, but absent such signals the event does not by itself imply sustained bearish pressure. For longer term, the release of tens of millions in BTC to the market would be potentially bearish, while continued dormancy or transfers to custody solutions is neutral to marginally bullish (reducing available float).