Dormant Bitcoin Whale Sends BTC to Kraken After 10 Years

• An early Bitcoin whale moved 5 BTC to Kraken after years of dormancy, sparking renewed interest.
• Wallet with 1,215 BTC mined in 2009 just sent more Bitcoin to Kraken after a decade.

An ancient Bitcoin whale, who first mined BTC in 2009, recently sold some of their holdings after nearly a decade of inactivity. According to Arkham Intelligence, the whale transferred 5 BTC, worth approximately $300,000, to the Kraken exchange.

Source: Arkham

Bitcoin Whale Awakens: Early Miner Moves Millions After Years of Silence 

This wallet, which has 1,215 BTC worth around $77 million, had been idle since 2014 before resuming activity three weeks ago. It made three separate transfers of 10 BTC apiece to Kraken, indicating increased interest in the market.

What makes this story even more astonishing is that this whale’s Bitcoin was mined only a month after the Bitcoin network’s start, in February and March of 2009. Such early engagement shows that this wallet was one of the first Bitcoin miners, making the unexpected increase in activity all the more remarkable.

This is not a unique incident but rather part of a recent pattern of long-dormant Bitcoin wallets reactivating. For example, as we previously noted, another wallet with 81 BTC went active after being inactive for 10.9 years.

Back in 2013, the holdings of this address were only valued at $44,707, but the value has since skyrocketed, demonstrating Bitcoin’s massive growth over time.

These incidents of reactivation demonstrate how early adopters, who appeared to have abandoned their Bitcoin holdings, are suddenly returning to the market, perhaps to profit from their investments.

Furthermore, a report by CNF highlights two other Bitcoin wallets that have resurfaced after an astonishing 15 years of silence. These wallets transferred a total of 100 BTC, worth about $6.24 million. This adds to the idea that many early Bitcoin holders, who had been sitting on their investments for years, are finally taking action.

The reasons for these abrupt movements are unknown, but they suggest that long-term investors may be evaluating their portfolios in light of current market conditions.

Bitcoin is currently trading at approximately $63,801.02, with little fluctuation over the last week. However, the increasing involvement of early Bitcoin holders could reflect a shifting sentiment, possibly motivated by recent price swings or anticipation of future changes.