A “satoshi-era” bitcoin wallet with $442 million worth of bitcoin (BTC) has become the latest dormant Bitcoin giant to wake up, moving some of its funds for the first time in 14 years.
The unknown Wallet owner Made most of his stash mining 4,000 bitcoins between April and June 2009, just months after the first blockchain network went live, whale alert said In an X post on Thursday.
Data from Onchain Nansen’s analytics platform out The whale sent 150 Bitcoins, worth more than $16 million, in a single transaction on Thursday.
Onchain data from Bitcoin Blockchain Explorer and Platform’s Memepool Space Platform suggesting The whale may have once held 7,850 Bitcoins. It was last active in June 2011 when it merged 4,000 bitcoins into one wallet.
Bitcoin was trading around $110,604 on Friday, which would make the whales’ entire stash worth more than $442 million. It was worth $194 in 2010 when CoinMarketCap started Tracking the price of Bitcoin in July of that year.
Whale can have more bitcoins
Another x user, Emmett Gallic, a self-employed blockchain analyst, said The whale once held 8,000 bitcoins across multiple wallets and continues to be seller off its holdings at another address “for years.”
“A whale that used to hold 8,000 BTC activated a new wallet from the Satoshi era of Bitcoin. He continues to sell today up to 3850 BTC after moving 150 BTC today. God level DCA Strat,” he said.
MEMEPOOL SPACE out The whale’s address received a total of 7,850 Bitcoins; The balance shows as 3,850 BTC after the recent transfer of 150 coins.
OG Whales on the move
Another satoshi-era bitcoin whale with 80,201 tokens began transferring its holdings to Galaxy Digital after being dormant for 14 years in July, making the final move in July 16.
Related: Bitcoin Whale held for 7 years sells $76m to last in ether
Crypto analyst Willy Woo stated in June that whales with more than 10,000 bitcoins has been selling continuously since 2017, responding to an X user’s question about who is selling amid increased interest from institutions.
Traders sometimes interpret the awakening of old whales as a sign that early holders are considering selling their holdings, but analysts told Cointelegraph in August that OG Bitcoiners selling their holdings have nothing to worry about because New buyers are jumping inwhich is a good sign of a maturing market.
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