An old Bitcoin whale has surprised the market by selling $9.7 million worth of BTC, according to data from Arkham Intelligence. The whale, who started mining in 2009, still holds an impressive $72 million in Bitcoin. This transaction has reignited speculation about the possible return of Satoshi Nakamoto, as the whale’s movements align with Bitcoin’s early days.
The Whale’s Big Move
According to Arkham Intelligence, this long-dormant whale recently sold $9.7 million worth of Bitcoin after transferring the funds to the Kraken exchange. The whale was among the earliest Bitcoin miners, accumulating BTC shortly after the genesis block was mined in 2009. Despite the recent sale, the whale still holds $72 million in BTC.
𝗨𝗣𝗗𝗔𝗧𝗘: 𝗔𝗡𝗖𝗜𝗘𝗡𝗧 𝟮𝟬𝟬𝟵 𝗪𝗛𝗔𝗟𝗘 𝗦𝗢𝗟𝗗 $𝟵.𝟲𝟴𝗠 𝗕𝗜𝗧𝗖𝗢𝗜𝗡
We’ve been tracking an ancient Bitcoin whale who mined thousands of BTC, starting only 5 days after the first block in 2009.
He’s now sold $9.68M BTC in total – and has $72.09M BTC remaining. https://t.co/juZlzhPtfc pic.twitter.com/YO9s6jxbdc
— Arkham (@ArkhamIntel) October 21, 2024
Back in 2009, Bitcoin mining was relatively easy, with miners generating up to 3,000 BTC daily using standard computers. Mining rewards were 50 BTC per block, but as Bitcoin’s popularity grew, the network’s difficulty increased, making mining much more challenging after 2010.
Rare Whale Movements and Their Impact
These kinds of transactions from old Bitcoin addresses are rare and often spark speculation about the identity of Satoshi Nakamoto. While there’s no evidence linking this whale to Nakamoto, such moves frequently lead to rumors of his return. The fact that the whale still holds the majority of his BTC suggests confidence in Bitcoin’s long-term prospects.
While whale movements like this can cause market volatility, the overall impact on Bitcoin’s price has been relatively limited. Nonetheless, whale activities continue to be closely monitored in the crypto world.
For more updates on whale movements and their impact on the market, stay tuned to Turkish NY Radio.
