Bitcoin Whale With Satoshi-Era Reserves Moves More Coins to Kraken
A Bitcoin whale that mined BTC just days after Satoshi launched the network has moved millions in value over the past few months. Why?
Whales are on the move again.
Data from blockchain firm Arkham Intelligence showed on Monday (14) that an âold whaleâ that has held Bitcoin for 15 years has moved another portion of its massive holdings to the American cryptocurrency exchange Kraken.
Arkham has been tracking this whale for some time. Earlier this month, the investor, who acquired Bitcoin in 2009, transferred coins worth nearly $3.6 million to Kraken.
This time, he transferred $$ 630 thousand of the âdigital goldâ to the exchange.
The whale holds a total of 1,139.2 Bitcoins â valued today at $$ 74.5 million. In total, the holder has moved $$ 5.47 million over the past two months to the exchange, according to Arkham.
This whale received the coins during Bitcoinâs âSatoshi eraâ â when the network launched in 2009 after the cryptocurrencyâs pseudonymous creator, Satoshi Nakamoto, mined the first block. This particular user mined Bitcoin just five days after the network went live.
Bitcoin whales are investors who accumulate large amounts of Bitcoin (at least 1,000 BTC, or $$ 67 million at the current price) and havenât touched them for years. They are more institutional than individuals.
When whales move, the price of Bitcoin can drop as industry observers, traders, and investors believe a big selloff is coming. And when a big selloff happens, it puts downward pressure on the assetâs price. In this case, given the small size of the move, the transaction is more notable for the age of the coins than for their value.
