Originally published on: October 16, 2024
An intriguing update has emerged from the world of cryptocurrency, with a Bitcoin whale from the early days of the digital asset making some significant moves. This mysterious individual, who mined Bitcoin just days after its inception in 2009 and had left it untouched until now, recently transferred $630,000 to the popular crypto exchange Kraken.
Dubbed the “ancient Bitcoin whale,” this holder has now moved a staggering $5.47 million worth of Bitcoin to Kraken over the past couple of months, as per information from blockchain data firm Arkham Intelligence. Despite these substantial transfers, the whale’s wallet still boasts a hefty $75.2 million in BTC holdings.
Following this latest transfer, the remaining 1,127 Bitcoin in the wallet were swiftly moved to a new address, marking a rare occurrence given the historic dormancy of early Bitcoin addresses. Some speculate that these moves may indicate an intention to cash out part of the holdings, especially with Bitcoin’s recent rally to over $67,000.
Notably, this is not the only early Bitcoin whale making waves in the market. Just earlier this month, another whale from the nascent days of Bitcoin transferred 10 Bitcoin worth $610,000 to Kraken after years of inactivity. In a separate instance, Arkham identified a whale that had mined Bitcoin in the early stages of the blockchain and resurfaced after 15 years to move a whopping $16 million to Kraken.
Bitcoin’s recent surge, coupled with the whale activity, has sparked interest and speculation among crypto enthusiasts. With the markets displaying positive momentum and the Crypto Fear & Greed Index touching “Greed” territory, it seems that exciting times lie ahead for Bitcoin and the broader crypto market.
As Bitcoin continues to captivate investors and traders alike, the movements of these early Bitcoin whales serve as a reminder of the cryptocurrency’s origins and evolution. Stay tuned for more updates and insights from the dynamic world of digital assets.
