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Ancient Bitcoin Whale Transfers $3.6M Ahead of Satoshi Identity Release

Key Points:

An ancient Bitcoin whale transferred $3.6 million worth of BTC to Kraken, coinciding with the upcoming HBO documentary revealing the identity of Bitcoin’s creator.
The transfer follows another recent activity by an early Bitcoin whale who moved $16 million worth of BTC after 15 years of dormancy.

An ancient Bitcoin whale, which holds Bitcoin mined shortly after 2009 when the cryptocurrency went live, reportedly transferred $3.6 million in BTC to Kraken exchange, blockchain analytics firm Arkham Intelligence reported.

Ancient Bitcoin Whale Transfers $3.6 Million Amid Satoshi Documentary Buzz

The huge move has sparked a great deal of interest, especially because it has coincided with the HBO documentary which, due to air on October 8, lays claim to unmasking the true face of Satoshi Nakamoto, who created Bitcoin. According to Arkham Intelligence, the transfer occurred on Thursday, which is the same day the trailer of the documentary was released.

A move by ancient Bitcoin whales sends eyebrows up, as such moves in the past have been seen as a prelude to sell-offs. With Bitcoin operating under relatively illiquid markets compared to traditional finance, large sales can put considerable downward pressure on its price.

Recent Transactions by Bitcoin Whales Generate Community Intrigue

The move isn’t the first action from this particular whale in 2024. Earlier, on September 24, Arkham reported another move by the whale of moving five Bitcoins to Kraken. In the present moment, this wallet has about 1,215 BTC worth more than $72.5 million. Its proximity to Bitcoin’s early days has created speculations that this might just be an early investor or Nakamoto himself.

The recent movement has created some interest for market watchers, given the fact that the Bitcoin in question was mined just a month after the mainnet went live.

Arkham revealed that this transfer was preceded by a set of smaller transactions leading up to the major transfer this Thursday. This is hot on the heels of another early Bitcoin whale movement, which came back online after 15 years of dormancy to move $16 million of BTC only days before.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.