A Bitcoin (BTC) whale, who mined the cryptocurrency in its infancy in 2009, has moved part of their holdings to the Kraken exchange after remaining dormant for a decade, according to data from on-chain tool Arkham. This whale, a term used for individuals or entities holding large amounts of Bitcoin, holds BTC mined just one month after the network was first launched. Earlier this week, the whale transferred 5 BTC, worth over $300,000 at current market prices, to Kraken.

Arkham’s data shows that this whale had moved Bitcoin between 2011 and 2014 to other wallets or exchanges. However, the wallet showed no activity over the next decade. During this period, the value of the whale’s holdings increased dramatically, rising from $474,000 to over $80 million as Bitcoin prices surged. Three weeks ago, the whale began moving Bitcoin again, transferring a total of 10 BTC to Kraken across three separate transactions. Sending large amounts of Bitcoin to exchanges is often interpreted as a signal of an impending sale, either for cash, stablecoins, or other digital assets.

This event follows a recent trend where other dormant “Satoshi Era” Bitcoin wallets, inactive since the early days of Bitcoin, have shown activity. Last week, a Satoshi-era wallet, dormant for 15 years, moved $16 million worth of BTC to various wallets. The term “Satoshi era” refers to the time when Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was active on forums, from late 2009 to 2011. Several of these long-inactive wallets have been reactivated in recent years. In July 2023, a wallet that had been inactive for 11 years transferred $30 million worth of BTC. In August, another wallet moved 1,005 BTC, while in December 2022, over 1,000 BTC were sent to exchanges, likely signaling sales, marking one of the largest Satoshi-era Bitcoin transfers in recent memory.

👉Join our Trading Community and Earn Airdrops! 👈

Finally, if you learned something, hit that UP ARROW ⬆️ and SHARE. 🔁