Sleeping beauty Bitcoin wallets wake up after 14 years to the tune of $2B

If you have $8B in BTC, is there any reasonable way to turn that into any fiat currency? USD, EUR, anything? Can you even buy that much USDC?

Loans using the BTC as collateral.

Buy good / commodities with BTC and resell them.

Sell the BTC.

Probably not all $8 gigadollars at once, but is there any reason you would immediately need that much?

If the Bitcoin Sovereign Wealth Fund scam that was announced after Trump's election is launched, there will be a price bottom that is financed by public funds.

I'm not sure what has come of it. Trump is doing well with his own coins:

https://www.reuters.com/business/finance/uae-fund-buys-100-m...

https://www.bloomberg.com/news/features/2025-07-02/donald-tr...

> but is there any reason you would immediately need that much?

Because you worry that BTC will crash and want it in something more stable?

Sure you can. If you do it over a few months, it will get absorbed by market because there are buyers (as of today). Though this is kind of unprecedented, so markets could find this kind of event bearish and front run your sells which tanks the price. But I can't imagine I'd care if I held for 14 years. There is also USDT which is much bigger than USDC.

BTC is volatile but it isn't going to crash tomorrow or any time soon at least not by the amount that would make sense to sell with a wallet this old.

yes, that’s why the exchanges are nearly $100bn companies

between multiple corporations buying $1bn per week, retail, and nation states, there is a large appetite for this amount with a few phone calls

If you don't want to bother, you can auction it and some hedge fund which wants to buy will take it from your hand.

Also if you approach Coinbase/Kraken/$exchange and tell them you have X million to offload, they'll probably let you do it off-market, so no one (except for the ledger, obviously) would really notice.

nah, they are worth that much because of inflated valuations

Well, one way to lower the price would be to put eight billion on the market all at once.

Compared to the “Magnificent Seven”, Bitcoin’s volatility has put it in the middle, while it’s performance puts it at or near the top depending on the time window.

https://www.fidelitydigitalassets.com/research-and-insights/...

https://www.fool.com/investing/2024/03/06/bitcoin-has-been-a...

Start an ETF?

Seems like a "buy borrow die" type of scenario to me.

I find it odd that someone would make a comparison between bitcoin and other financial assets, as if bitcoin was just another financial asset and its theoretical price wasn't zero... which is a pretty big market anomaly. Normally, when you find a market anomaly, you try to explain it. But these analysts, they pretend that there's no anomaly. They just don't talk about it, in the hopes that nobody will notice.

Yes. And note that Coinbase for example charges retail around 1.5% or so on average, but only a few basis points to institutional clients last time I ran the numbers. Surprise.

Why are you asking about $8B when the article is about $2B?

Well, what should they compare it to then?

Good has a value much higher than its use and most of its current value is just the faith that it is a store of value.

But I don't find odd comparing gold's return to s&p

You would have to arrange a bunch of off market transactions, Probably spread over several different exchanges. Doable, but I reckon you would end up with closer to 6 billion