Originally published on: October 16, 2024
An early Bitcoin adopter, who mined the cryptocurrency just days after its inception in 2009 and had kept it untouched until now, recently transferred $630,000 to the crypto exchange Kraken. This mysterious “ancient Bitcoin whale” has shifted a total of $5.47 million worth of Bitcoin to Kraken in the past two months, as reported by blockchain data firm Arkham Intelligence on October 14th.
Despite these significant transfers, this Bitcoin whale still holds a substantial amount of $75.23 million worth of BTC in their wallet. Following the recent transaction, the remaining 1,127 Bitcoin were moved to a new wallet address, marking a rare movement of funds from Bitcoin addresses of the past.
This move comes after another early Bitcoin whale transferred 10 Bitcoin valued at $610,000 to Kraken on October 3rd. This wallet had been dormant for over a decade, sparking curiosity in the crypto community.
Analysts speculate that these whales might be looking to capitalize on Bitcoin’s recent price surge, with the cryptocurrency climbing over $67,000 in the last week. This upward trend could be prompting these ancient holders to sell a portion of their accumulated Bitcoin stash.
Bitcoin’s volatility over the past year has been evident, ranging from a low of $28,000 to a high of $73,000 in March. The Crypto Fear & Greed Index has also shown a positive shift, scoring 73 out of 100 on October 16th, indicating a “Greed” sentiment that has been consistent for the past two days.
This recent activity in the Bitcoin market highlights the evolving landscape of cryptocurrency trading, with early adopters making strategic moves to capitalize on the digital asset’s growing value. Stay tuned for more updates on the crypto market and don’t miss out on new investment opportunities by subscribing to our newsletter now.
