Historic Satoshi-Era Bitcoin Whale From 2009 Moves Massive Funds
For the first time in 14 years, a $442 million Bitcoin wallet from the “Satoshi era” has come active. Long-dormant Bitcoin giant came to life when the wallet shifted part of its funds. Between April and June 2009, the wallet’s unidentified owner mined the majority of its contents, which came to 4,000 Bitcoin. Whale Alert stated in a Thursday X post that this occurred only a few months after the first blockchain network went up.
Long-Dormant Bitcoin Whale Sends 150 BTC in Single Transaction
The whale sent 150 Bitcoin, or more than $16 million, in a single transaction on Thursday, according to data from the on-chain analytics platform Nansen. The whale may have formerly owned 7,850 Bitcoin, according to on-chain data from the Bitcoin blockchain explorer and analytics site memepool space. When it combined 4,000 Bitcoins into a single wallet in June 2011, it was last in operation.
On Friday, the price of Bitcoin was about $110,604, meaning that the whales’ entire holdings would be worth more than $442 million. When CoinMarketCap began tracking the price of Bitcoin in July 2010, it was worth $194.
Analysts Say Early Bitcoin Sales Don’t Signal Trouble
Emmett Gallic, a self-employed blockchain expert, claimed that the whale formerly had 8,000 Bitcoin spread across several wallets. The whale has been gradually selling off its possessions at a different address for years, he continued.
A Whale that once held 8,000 BTC activated a new wallet from the Satoshi Era of Bitcoin. He has been steadily selling now down to 3850 BTC after moving 150 BTC today. God Level DCA Strat,
Gallic
Old whales waking up can occasionally be interpreted by traders as an indication that early holders are thinking about liquidating their holdings. Analysts, however, told Cointelegraph in August that there is no reason to be concerned about early adopters of Bitcoin dumping their holdings. They clarified that the influx of new buyers is an indication that the market is developing.
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