Whale movements attract attention and are closely followed in many altcoin projects, including Bitcoin. Accordingly, three Satoshi Era Bitcoin whale addresses that have not made any transactions since November 2017 transferred 6,500 Bitcoins estimated to be worth $230 million on November 2nd. The Satoshi Era Bitcoin era refers to a very early period when the Bitcoin network was relatively unknown.
6,500 Bitcoins Transferred
According to data from the blockchain data analysis platform Bitinfocharts, the first wallet sent 2,500 Bitcoins estimated to be worth $90 million to a different wallet address. The second address carried approximately 2,000 Bitcoins worth $71 million, while the third address conducted a transfer of approximately 1,950 Bitcoins worth $69 million.
These three Bitcoin addresses have one more common feature; all three wallets made their last transaction on November 5, 2017. This means that the wallet owner or owners made their last transactions approximately six years ago. Therefore, these wallets did not make any transactions even during the Bitcoin bull cycles and the all-time high level of $69,000.
Most of the Bitcoins in the three whale wallets date back to July 2011 and are associated with a Bitcoin mining pool called F2Pool. This suggests that Bitcoin may have accumulated through mining in the early days of Bitcoin. Moreover, considering this period, it also implies that the three wallets may hold Bitcoin during the period when it traded below $15.
Bitcoin Wallets Waking Up
It has not been confirmed yet whether all three wallets belong to the same person or organization, but their wallet histories and transaction similarities increase the likelihood. The last movement of Bitcoin whale addresses containing BTC in the 2011 period occurred just a few days before the Bitcoin price reached a new annual high above $35,000.
Since the beginning of 2023, a series of Bitcoin whales and addresses older than ten years have been transferring Bitcoin to new addresses. In early July, a wallet that had been inactive for 11 years transferred $30 million worth of Bitcoin. A month later, a wallet from the Satoshi Era transferred 1005 BTC to a new address.
