Satoshi-Era Bitcoin Whale Dumps $10M Worth of BTC as Coin Eyes $70k Mark

A Bitcoin ancient whale from the period commonly known as the Satoshi era has sprung into action again, selling off almost $10 million worth of the flagship cryptocurrency.

A Bitcoin whale that began mining the flagship cryptocurrency in 2009 has sold almost $10 million BTC in the latest crypto sell-off.

According to Arkham Intelligence, a crypto large transaction tracking service, the Satoshi-era whale sold exactly $9.68 million BTC on the Kraken exchange. Notably, this whale started mining Bitcoin in 2009, a few days after the genesis block was created.

In 2009, mining Bitcoin was easier as the early Bitcoin adopters could mine BTC by using their computers. At the time, they could generate more than 3,000 BTC per day through mining since the mining difficulty was 1. Those who joined the revolutionary movement at that time managed to accumulate thousands of Bitcoins which are now valued in hundreds of millions of dollars.

It is worth noting, however, that these Satoshi-era wallet addresses are very rare, leading to speculations about Satoshi Nakamoto being the entity behind the recent movement.

Arkham Intelligence has been tracking this whale for a while. The blockchain company noted that the whale made a previous transfer of $630k BTC to the aforementioned exchange on October 14. In the past two months, the whale has sold $15.1 million BTC on Kraken.

Moreover, the whale still has a staggering 1.077k BTC, valued at $72.093 million, left in its coffers.

Other Whale Movements

Meanwhile, other whale activities were spotted by another known large transaction tracker over the last day. Whale Alert reported two significant movements on X (formerly Twitter) earlier today.

The first transfer shifted 2,500 BTC, worth $170.9 million, from an unknown wallet to another unidentified wallet. Shortly after, the second transaction moved 2,700 BTC, valued at $184.6 million to another anonymous wallet.

In contrast to the Satoshi-era whale, these two transactions seem to be an accumulation rather than a sell-off since they were moved to cold wallets. Could this help reduce the selling pressure on BTC? We will have to find out.

Victor SwaezyEditor

Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as 36crypto and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.