An address tied to Ross Ulbricht, the creator of Silk Road, is currently exhibiting significant Bitcoin activity. This wallet reportedly contains around 86,000 BTC, valued at nearly $8 billion.
Blockchain analysis reveals that a portion of these funds is being transferred under the custody of Coinbase Prime. So far, approximately 11,000 BTC have been relocated through this service.
Experts in the market suggest that such movements often reflect routine security and asset management procedures and are generally considered standard practice. Nonetheless, given recent events, observers are paying close attention to the timing of these transfers. Notably, about $3 million worth of Bitcoin connected to Silk Road was recently moved and then redeposited into Coinbase Prime, adding further intrigue to these transactions.
Another critical aspect lies in the provenance of this Bitcoin stash. The address has been linked back to a post by Ulbricht on the BitcoinTalk forum where he used the alias “altoid.” In that message, he sought technical assistance related to using the Bitcoin API; this same address is associated with those activities. This connection serves as one of the strongest pieces of evidence—both on-chain and off-chain—that ties this wallet directly to Ulbricht himself.
*Please note: This information does not constitute financial advice.