- Three Satoshi-era Bitcoin whale wallets that had been dormant since 2017 recently transferred a total of 6,500 BTC worth $230 million
- The first wallet moved 2,550 BTC worth $90 million, the second moved 2,000 BTC worth $71 million, and the third moved 1,950 BTC worth $69 million
- Most of the BTC in the wallets dates back to July 2011 and is linked to early Bitcoin mining, as the wallets held BTC when it traded under $15
Recently, several Satoshi-era Bitcoin wallets have risen from dormancy to transfer their BTC to new addresses. These long-dormant whales hold Bitcoin from the early days of the network and their movements often make headlines in the crypto space.
The Whale Transfers
On November 2nd, three Satoshi-era Bitcoin whale addresses that had been dormant since November 2017 transferred a total of 6,500 BTC worth roughly $230 million.
The first wallet moved 2,550 BTC, estimated to be worth $90 million.
A second address moved around 2,000 BTC worth $71 million.
The third address transferred around 1,950 BTC worth $69 million.
All three wallets had another thing in common – the last transaction from each came almost six years ago on November 5, 2017. Thus, these wallets slept through the Bitcoin bull run and the all-time high of over $69,000.
Origins of the BTC
Most of the Bitcoin in the three whale wallets dates back to July 2011 and is linked to F2Pool, a Bitcoin mining pool, suggesting it may have been accumulated via early Bitcoin mining. The three wallets held BTC when it traded under $15.
The recent movement of these long-dormant Bitcoin whales containing Bitcoin from the 2011 era comes just days after the BTC price touched a new yearly high above $35,000. As we move into 2023, more sleeping giant wallets from Bitcoin’s early days may rise up and move their BTC once again.