A large Bitcoin holder who mined the cryptocurrency just five days after the genesis block was created in 2009 — and hadn’t touched it until recently — has transferred another $630,000 to crypto exchange Kraken.
The “ancient Bitcoin whale” has now moved $5.47 million worth of Bitcoin (BTC) to Kraken in the past two months, blockchain data firm Arkham Intelligence said in an Oct. 14 X post.
It added that despite the recent moves, the whale wallet still holds $75.2 million worth of BTC.
Despite the ongoing transfers, the Bitcoin whale has a large supply of Bitcoin stashed away. Source: Arkham
After the transfer, the wallet’s remaining 1,127 Bitcoin were moved to a new wallet address.
Bitcoin addresses from the blockchain’s infancy rarely move funds, but some owners may be looking to cash out amid the transfers.
A different early Bitcoin whale transferred 10 Bitcoin, worth $610,000, to Kraken on Oct. 3. Arkham said the whale had been dormant for at least a decade.
In September, the firm tracked yet another whale that mined Bitcoin two months after the blockchain went live and woke up after 15 years to move $16 million to Kraken.
Bitcoin has been on the rise over the last week, gaining 7.45% and climbing to more than $67,000 — a likely reason why the whale is seemingly moving to sell a part of their stash.
Related: Bitcoin dominance hits 3.5-year high as altcoins get left behind
In the last year, Bitcoin has seen major swings — dropping as low as $28,000 but also hitting a new all-time high of $ 73,000 in March.
The market sentiment-tracking Crypto Fear & Greed Index has also seen some positive momentum, with the latest Oct. 16 update scoring 73 out of a total of 100, well within the “Greed” territory, which it has held for the last two days.
The last time the index recorded a score above 73 was on July 29, when Bitcoin was around $66,000.
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