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At first, Satoshi created Bitcoin, which was good, but no one used it.
That’s why it’s especially interesting that the person who mined a huge amount of Bitcoin just a month after Bitcoin was created moved most of it to a cryptocurrency exchange after not touching Bitcoin for over a decade. That’s strange.
An “ancient” Bitcoin whale, first identified by crypto analysis firm Arkham Intelligence, moved approximately $3.6 million worth of Bitcoin to cryptocurrency exchange Kraken, according to blockchain data.
According to Arkham, the mysterious holder has over 1,189 Bitcoins worth nearly $77 million at current prices.
Arkham first pointed out the whale when it started moving to Kraken last month after leaving Bitcoin alone for a decade.
An ancient Bitcoin whale sent BTC to Kraken
A Bitcoin whale with $77 million of BTC mined in the first two months of Bitcoin moved 5 BTC to Kraken.
At his address, this whale still holds 1215 BTC ($77 million).
His Bitcoins were mined in February and March of 2009, one month after… pic.twitter.com/ZNo93P4AbQ
— Arkham (@ArkhamIntel) September 24, 2024
Arkham said they sent another 5 Bitcoin chunk to the exchange on Thursday. Kraken is one of the largest cryptocurrency exchanges in the United States.
This coin was minted during what is known as the “Satoshi Era” of Bitcoin. The network went live in January 2009, shortly after the first “Genesis” block was mined by Bitcoin’s pseudonymous creator Satoshi Nakamoto.
In crypto parlance, a whale is a person or entity that holds large amounts of Bitcoin. Such investors often do not move their cryptocurrencies for years.
Whales like the one Arkham pointed out today are reaping astronomical benefits. The price of Bitcoin held by this particular holder has increased over 16,700% in 10 years.
Big moves in whales can surprise investors and interpret them as holders trying to cash out their profits. Bitcoin remains an illiquid market by traditional financial standards, and a mass sell-off of the cryptocurrency could put significant downward pressure on Bitcoin’s price.
According to CoinGecko, the price of Bitcoin is currently $62,194.
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