Record-Breaking Bitcoin Whale Transfer After Decade-Long Hold
A Bitcoin “whale” moved $469 million in cryptocurrency from an address presumed to have acquired the coins over a decade ago.
Key Details
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The transfer occurred Thursday (July 18) from a dormant Bitcoin address estimated to hold assets accumulated since 2011.
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Blockchain data analysis from Arkham Intelligence identified the address, showing significant inactivity since January of 2011, with minimal exceptions.
Over 3,962.6 BTC, equivalent to $469 million at current prices ($118,956/coin), was transferred to a previously inactive address around Thursday morning Eastern Time.
This move marks the latest in a series of high-profile moves by large holders (“whales”). This month alone, another whale transferred $8 billion in Bitcoin. Both transfers have prompted speculation about potential market-moving activity, although sales did not occur immediately.
The transfer signals the potential injection of significant supply into the market after years of inactivity.
Context & Analysis: The address showed signs of activity aligning with the period around the creation and initial development of Bitcoin by Satoshi Nakamoto, who reportedly disappeared from the internet in April 2011.
Data suggests the assets were acquired primarily in mid-2011, when BTC fluctuated from approximately $0.29 to nearly $4.58, functions were stabilized, and the first unconfirmed transaction occurred in early June 2011.
At that acquisition date, BTC traded around $0.32. By Thursday’s trade, the coin’s value surged dramatically to over $118,956, representing a more than 37 million percent increase. The market capitalization of BTC recently reached an all-time high of $122,838.
Defining a Bitcoin Whale: Industry observers define a Bitcoin whale as an entity holding 1,000 or more BTC (approximately $119 million currently).
The precise identities of these large holders are often unknown, though historically, whales have frequently included individuals and groups connected to early Bitcoin mining or development.
While market observers are accustomed to tracking the movements of whales following sales to fund “HODLing” (holding long-term), recent activity involving transfers without immediate sales continues to be closely monitored.
Disclaimer: Valuations are based on CoinGecko data and are indicative. Large transactions can signal various intentions, not necessarily a market dump.
