Three Bitcoin wallets from the Satoshi era have recently moved a total of $230 million in assets to new addresses. These wallets, which had been dormant for almost six years, sparked trading concerns among the crypto community as large numbers of ancient addresses have been resurfacing this year.
Significant Asset Movements
The first wallet transferred 2,000 BTC, valued at approximately $71 million, while the second whale moved 2,550 BTC, worth around $90 million. The last wallet sent out 1,950 BTC, worth $69 million, bringing the total to $230 million. The significant profits obtained from “price change” have led many to speculate that these transfers might have been a sale. Based on the current market price of above $34,000, these ancient holders would have earned $68.9 million, $54.1 million, and $52.7 million, respectively.
Satoshi-Era Addresses and Crypto Whales
The wallets involved in these transactions are linked to addresses created over a decade ago, during the time of Satoshi. Crypto whales, such as these holders, are characterized by their portfolios consisting of more than 1000 BTC and their ability to influence asset prices based on transaction volume. Other categories of Bitcoin holders include sharks (500-1000 BTC), crabs (1-10 BTC), and shrimps (less than 1 BTC), who make up the majority of the community.
While it is unclear if the three transactions are connected to a single entity, the similarity in the timing of the asset transfers and their last activity since 2017 suggests a correlation. Despite remaining dormant throughout the bullish run of 2021, where the price of Bitcoin soared over $64,000 and eventually experienced a major decline, these wallets have recently become active again, leading to speculation about a possible sale of assets due to renewed market activity.
Interestingly, this is not the first time ancient Bitcoin accounts have moved significant amounts of assets. In February, an address moved $9.6 million in assets after 11 years, resulting in a staggering 120,000% profit. Similarly, in April, another ancient account transferred $10 million worth of assets that were purchased approximately twelve years ago. In July, a whale moved assets worth $37 million that were originally bought for $5,107 at the time. This trend of ancient wallet activity extends beyond Bitcoin to other assets in the market.
