- A Bitcoin Whale moved 80,009 BTC worth $8.69 billion after remaining dormant for over 14 years.
- The whale originally acquired the Bitcoin in 2011 when the price was just $0.78 per coin.
- The BTC was split into two transactions of 40,000 BTC each, sent to different new wallets.
- Analysts believe the whale is forming a Bitcoin treasury rather than preparing for a sell-off.
- Glassnode reported that 14.7 million BTC are currently held by long-term holders across the network.
Satoshi-Era Bitcoin Whale Awakens After 14 Years
A Bitcoin Whale who acquired tokens in 2011 moved them to two different wallets in rapid succession. According to BitInfoCharts data, the whale initially held BTC in wallet NY8gD… and transferred 40,000 BTC to address TSmxj… The second transfer, made shortly after, moved the remaining 40,000 BTC to wallet ECyqH…The Bitcoin Whale originally purchased the 80,009 BTC when Bitcoin was priced at $0.78, spending just $7,805. Today, that holding is worth over $8.69 billion, making it one of the most profitable BTC positions in history. The move occurred as Bitcoin touched the $108,000 mark, intensifying speculation across the crypto community.
This sudden activity revived interest in long-dormant accounts known for their potential market impact. Historical patterns indicate such moves often trigger discussions about market direction, especially during price peaks. Analysts continue to track these addresses for further signals.
Analysts Expect Holding, Not Selling
Crypto analysts suggest the Bitcoin Whale is forming a treasury rather than preparing for a sell-off. Market data supports this theory as past whale moves during price peaks have resulted in continued holding. This wallet could be used for yield generation or long-term positioning.Glassnode noted that many long-term holders bought their Bitcoin at recent highs, indicating reduced selling risk. These holders tend to stay firm unless major shifts in regulation or market structure occur. Current data shows 14.7 million BTC are held by long-term addresses, limiting the downside potential.
Analysts also mentioned the whale’s activity aligns with similar cases of strategic repositioning. Movement without exchange deposits often signals internal transfers or treasury management. As the Bitcoin Whale has yet to engage with an exchange, selling pressure appears limited.
Source: https://coincentral.com/bitcoin-whale-moves-8-69b-after-14-years-sparks-market-speculation/
