Satoshi-Era Bitcoin Whale Transfers Half Its Holdings: What It Means
Major bitcoin Whale Moves Billions Amid Market Activity
Significant Transfers by a Notable bitcoin Holder
On July 17, a prominent bitcoin whale, previously known for possessing over 80,000 BTC, executed a substantial transfer of its holdings. This movement comes shortly after the whale sent a significant portion of its assets, valued at billions, to Galaxy Digital. According to blockchain analytics firm Lookonchain, the whale recently transferred 40,192 BTC—equivalent to approximately $4.77 billion—to a new wallet, indicating potential plans to continue selling.
Recent Transactions and Market Impact
Earlier this week, the same whale had already moved 40,009 BTC through various transactions to Galaxy Digital. Data from Nansen reveals that a portion of this amount, specifically 6,000 BTC, was directed to major cryptocurrency exchanges Binance and Bybit. Following these transactions, bitcoin surged past $122,000, achieving a new all-time high. Analyst Crazzyblockk from CryptoQuant speculated that the price drop that followed might be attributed to profit-taking by large holders.
The Awakening of a Satoshi-Era Whale
Lookonchain first identified this whale on July 4, marking its first activity in 14 years. The whale’s holdings span eight wallets, with the initial two receiving 20,000 BTC on April 2, 2011, when bitcoin was valued at just $0.78. This period coincided with the last known communication from bitcoin‘s creator, Satoshi Nakamoto.
The remaining six wallets have retained 60,009 BTC since May 4, 2011, when bitcoin traded at $3.37.
Activity from Smaller Whales
In addition to the major whale, a smaller holder also made headlines this week after a six-year dormancy. This mini whale transferred its entire wallet, containing 1,042 BTC worth around $123 million, to a new address, where the assets remain untouched. Nansen’s data indicates that this wallet originally received its bitcoin from Braiins Mining and Xapo Bank six years ago, when each token was priced at $8,746, making the total value at that time approximately $9.12 million.
Other Notable bitcoin Holders Remain Steadfast
Satoshi Nakamoto remains the largest bitcoin holder, with an impressive 1.096 million BTC distributed across numerous wallets, all of which have never been moved or sold. Other significant holders include the Winklevoss twins, founders of the Gemini exchange, who are estimated to possess around 70,000 BTC. Venture capitalist Tim Draper holds approximately 30,000 BTC, acquired during a 2014 US Marshals auction, while Michael Saylor, co-founder of Strategy, has a private collection of about 17,732 BTC.
This recent activity among whales highlights the dynamic nature of the cryptocurrency market, as large holders continue to influence price movements and market sentiment.
