David Edwards
A long-dormant Bitcoin holder, who mined the cryptocurrency just five days after the genesis block in 2009, has transferred $630,000 worth of BTC to the cryptocurrency exchange Kraken. This transfer follows a series of significant movements, with the so-called “ancient Bitcoin whale” having shifted a total of $5.47 million worth of Bitcoin to Kraken over the past two months, according to blockchain analytics firm Arkham Intelligence.
Despite these transactions, the whale’s wallet still holds a substantial reserve of Bitcoin, valued at approximately $75.2 million. The latest movement saw the remaining 1,127 BTC moved to a new wallet address after the $630,000 transfer.
Early Bitcoin addresses, particularly those dating back to the cryptocurrency’s inception, rarely show signs of activity. However, a handful of these early miners seem to be capitalizing on recent market trends. For example, on Oct. 3, another early Bitcoin holder, dormant for over a decade, transferred 10 BTC, valued at $610,000, to Kraken. In September, Arkham Intelligence tracked another whale, who mined Bitcoin shortly after the blockchain launched, moving $16 million after 15 years of inactivity.
Bitcoin’s recent price surge—up 7.45% over the last week to surpass $67,000—may be encouraging these whales to cash out part of their holdings. As of Oct. 16, the Crypto Fear & Greed Index has shown a strong bullish sentiment, scoring 73, indicating “Greed,” a level not seen since late July when Bitcoin was trading around $66,000.
