2 whales (large bitcoin holders) made large transfers of funds after a period of inactivity of about 10 years. The first transferred 2,071 BTC and the second transferred 463 BTC. The reasons for these transfers are unknown, but some speculate that it could be a security measure following recent hacks. Others mention a possible involvement of Satoshi Nakamoto, the creator of Bitcoin.
Whales wake up after a long slumber
At the end of last week, 2 whales made significant bottom movements after a period of inactivity of approximately 10 years. The first one, who holds a total of 6,071 Bitcoins (BTC)or approximately $166.6 million at the current price, has transferred 2,071 BTC ($60.7 million) after 9.3 years without any activity.
A whale with 6,071.5 $BTC($178M) that has been dormant for 9.3 years transferred 2,071.5 $BTC($60.7M) out today.
And the 2,071.5 $BTC was finally transferred to the address starting with “bc1q”.
The whale received 6,071.5 $BTC on Dec 19, 2013, when the price was $663. pic.twitter.com/CBpoIy2mEk
— Lookonchain (@lookonchain) April 20, 2023
As Twitter user @lookonchain explains, the whale initially had acquired his 6,071 BTC in December 2013, when the king of cryptocurrencies was then trading around $663. After this movement, the whale – which has not touched its wallet since – now observes a balance of 4,000 BTC, or around 110 million dollars. Although the BTCs were not sold, the whale would currently be able to make a capital gain of 4,134% on its initial investment.
The next day, April 21, a second whale transferred 463 BTC after 10 years of inactivity, out of a total amount of 1,128 Bitcoins initially housed in his wallet.
Movements on the 12At4GG wallet from October 7, 2021 to April 9, 2013
The BTCs in this portfolio, mostly obtained at a cost of $12 and $195 per unit at the timewere transferred to 3 different wallets.
These transactions themselves follow those of a whale, which, last February, had suddenly transferred the equivalent of $9.6 million in the form of Bitcoin while the wallet had not been used for 11 years. With a purchase price of 8 dollars at the time of its acquisitions, the whale saw the value of its portfolio increase by 120,000,000% over that lifetime.
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Why do the whales only operate now?
In reality, it is very complicated to say what can motivate very long-term Bitcoin holders to transfer them after so long. If we cross this information with recent news, it would be possible that the whales seek to secure their cryptocurrencies following the repeated hacks which remain without explanation.
The analyzes published by @tayvano_ occupy the minds of investors, since one or more individuals would be in the process of emptying wallets since December 2022 without the slightest cause being identified. However, it would seem that the wallets concerned were created before 2014, and this is moreover one of their rare points in common, but the whales could however play the card of excessive caution given the sums that they hold.
Otherwise, these Bitcoins having been accumulated during the “Satoshi era”, some rumors suggest that Satoshi Nakamoto – which would hold more than one million BTC – would be behind these movements of funds. Very complicated rumors to verify.
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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