A Bitcoin enthusiast, known as a “whale,” who possesses a staggering $77 million worth of Bitcoin ($BTC) mined during the initial two months of Bitcoin’s launch, has recently transferred 5 Bitcoin to the Kraken exchange. Nonetheless, this individual’s wallet still contains a substantial 1,215 BTC. The coins were mined in February and March of 2009, a mere month after Bitcoin’s creation, according to data from ARKHAM.
This ancient Bitcoin whale has just sent BTC to Kraken. The whale, who holds $77 million worth of BTC mined during Bitcoin’s first two months, has transferred 5 BTC to Kraken. The whale still possesses 1,215 BTC ($77 million) in their wallet. These Bitcoins were mined in 2009, specifically in February and March, just one month after… pic.twitter.com/ZNo93P4AbQ — Arkham (@ArkhamIntel) September 24, 2024
Dormant Bitcoin wallets, which have remained inactive for a significant period, have suddenly come to life, capturing the attention of many. The history of this particular whale’s Bitcoin is fascinating. It was sold multiple times between 2011 and 2014 but has remained dormant for nearly a decade. During this period of hibernation, the value of the Bitcoin skyrocketed from $474,000 to over $80 million. More recently, approximately three weeks ago, this whale began transferring its Bitcoin once again. In three separate transactions, a total of 10 BTC was sent to Kraken. However, this number of BTC is relatively insignificant, and it is expected that the whale may choose to hold onto more as the next bull run is anticipated.
This whale’s recent activity mirrors that of another early Bitcoin whale who also mined coins during the same period. Just a few days ago, this dormant whale, which had been inactive for 15 years, made a transaction worth $16 million in Bitcoin. The sudden resurgence of these early Bitcoin wallets raises questions: Why are these previously inactive wallets suddenly active?
On September 20, ARKHAM reported that several Bitcoin addresses from 2009 had begun moving their funds after years of inactivity. A total of $15.95 million in Bitcoin, or 250 BTC, was transferred from five addresses that were utilized in January 2009, the very first month of Bitcoin’s existence.
The reactivation of these old wallets could be attributed to various factors, including market conditions or decisions made by the wallet owners. These movements indicate that the interest in Bitcoin remains strong as the cryptocurrency market continues to expand, and they shed light on the potential influence of significant market players, particularly those who hold onto their investments for the long term. Investors and enthusiasts alike eagerly await what these whales will do next.