A Satoshi-era Bitcoin whale has reawakened after 14 years of dormancy, potentially looking to sell more than $4 billion worth of BTC . The major cryptocurrency holder has 80,000 Bitcoin in their stash .
The whale transferred 40,010 BTC worth over $4.6 billion on Monday , of which 28,600 BTC were subsequently transferred to Galaxy Digital , data from blockchain intelligence platform Nansen shows. On Tuesday, a remaining 10,200 BTC worth $1.2 billion was transferred to Galaxy Digital , bringing the total value moved in the past two days to $4.6 billion at the time of writing.
According to onchain analyst EmberCN, these movements to Galaxy Digital may signal that the whale intends to offload a significant chunk of their stash . Cryptocurrency traders often look to whale transaction patterns to gauge institutional Bitcoin demand and short-term price action, due to the potentially market-moving amount of capital these entities hold. This Satoshi-era whale has held onto their Bitcoin stash since 2011, when BTC was trading below $30 . The savvy investor has realized a more than 2.4 million percent increase over the past 14 years , TradingView data shows.
The whale's multibillion-dollar transactions come at an interesting time. They began a day after Bitcoin flipped Amazon's $2.3 trillion market capitalization to become the world's fifth-largest asset by total valuation. Bitcoin's price rose to a new all-time high of $122,600 on Monday , Cointelegraph reported.
Bitcoin whales awoke after 14 years of dormancy , having held their BTC since it was trading below $0.78 a coin in 2011 . A Bitcoin wallet “12tLs” transferred 10,000 Bitcoin worth over $1 billion after 14 years of holding the assets on Thursday.
Whales are often closely monitored by the community due to their foresight. Therefore, even the slightest activity can be read as a signal based on which the markets can shift. One of these whales, currently speculated to be Roger Ver, has moved 80,000 Bitcoin over the past 24 hours .