Satoshi-Era Bitcoin Whale Moves $4.6B After 14 Years
A Bitcoin whale from the Satoshi era has transferred $4.6 billion worth of BTC after 14 years of inactivity, sparking speculation about a potential sell-off. The whale originally acquired their Bitcoin in 2011 when prices were below $30.
Details of the Major BTC Transaction
The whale moved 40,010 BTC in two transactions, sending 28,600 BTC to Galaxy Digital on Monday and another 10,200 BTC on Tuesday. Blockchain analytics firm Nansen tracked these movements, which totaled $4.6 billion at current prices.
Market Impact and Timing
This activity coincides with Bitcoin reaching a new all-time high of $122,600 and surpassing Amazon’s market capitalization. Large whale transactions often influence market sentiment and short-term price action.
Potential Reasons Behind the Move
Analysts suggest several possibilities for the whale’s actions:
- Profit-taking after 2.4 million percent gains
- Portfolio rebalancing
- Response to changing regulatory landscape
Expert Perspective on Market Conditions
Iliya Kalchev of Nexo notes that ‘Crypto Week’ in Washington may be contributing to positive market sentiment. “The combination of strong ETF inflows and potential regulatory clarity is driving current momentum,” Kalchev told Cointelegraph.
Key Takeaways
- This marks one of the largest single movements of Bitcoin from an early holder
- The transactions represent about half of the whale’s total holdings
- Market watchers will monitor for further activity from this address
