A Bitcoin address associated with Silk Road founder Ross Ulbricht, reportedly holding approximately 86,000 BTC (approximately $8 billion), is showing remarkable activity.
According to on-chain data, some of these assets are being relocated under the Coinbase Prime custody service. A total of 11,000 BTC has reportedly been moved so far.
Market observers note that such fund rotations are typically part of security and custody protocols and are considered normal. However, the timing is being closely watched due to recent developments. The recent movement of approximately $3 million worth of Bitcoin linked to Silk Road, and its subsequent deposit back into Coinbase Prime, has heightened the significance of these transactions.
Another noteworthy element is the origin of these Bitcoins. The address is said to be linked to a post made by Ross Ulbricht on the BitcoinTalk forum under the username “altoid.” In this post, Ulbricht requested technical support regarding the use of the Bitcoin API, and the address is associated with this process. This detail is considered one of the most important on-chain and off-chain clues strengthening the connection between the address and Ulbricht, the founder of Silk Road.
*This is not investment advice.
