Satoshi-Era Bitcoin Whale Moves Coins Worth $850K After 15 Years
On Wednesday morning, an anonymous Bitcoin whale who participated in mining the earliest blocks sent their rewards to one of the leading exchanges, Kraken. On-chain data shared by crypto analytics firm Arkham Intelligence indicates that the whale, currently holding mined BTC worth over $75 million, transferred $850,000 worth of coins in three transactions.
Furthermore, Arkham analysts revealed that the former miner made another BTC transfer to their Kraken account three weeks ago after 15 years of dormancy. According to the analyst, the whale mined their first block in March 2009, two months after Satoshi Nakamoto launched Bitcoin.
More Bitcoin Whales Make Transfers
It is important to point out that another Bitcoin whale, who engaged in mining in 2009, returned to life last weekend, moving coins worth over $1.2 million to various exchanges. Arkham says the miner is now holding $16 million in Bitcoin. Moreover, another miner, who was rewarded 250 BTC for their participation in 2010, transferred their coins to six new wallets in early August. The coins, worth a few pennies at the time, are now valued at $15.1 million.
Is Satoshi Nakamoto Behind the Latest Bitcoin Transfer?
Meanwhile, some analysts claim that the latest Bitcoin transfer might have been initiated by Satoshi Nakamoto. However, Arkham has disassociated the Bitcoin founder from the transfer, arguing that the blocks added to the network by the miner who moved coins today are not in line with the pattern of blocks that Nakamoto is said to have mined.
While it remains unclear why the former Bitcoin miner made the transfer, in most cases, deposits into centralized exchanges signal holders’ intentions to cash out. Crypto analysts have noted that long-term BTC holders prefer to sell their coins after some years when their profit margins have surged significantly. So, this could mean that the Bitcoin whale plans to book profits.
How Has Bitcoin Reacted?
The latest transfer hasn’t affected Bitcoin’s performance today. The coin, which is the largest by market capitalization, is up 0.6% to $63,676 in the past 24 hours. Other top cryptocurrencies have recorded mixed performances. For instance, Ethereum is down 0.6% to $2,605, while Solana is up 3.5% to $150.
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