A Bitcoin holder who began mining the cryptocurrency just days after its creation in 2009 has recently transferred another $630,000 worth of Bitcoin to the crypto exchange Kraken. This brings the total amount sent to Kraken by this early Bitcoin “whale” to $5.47 million over the past two months, according to blockchain data firm Arkham Intelligence.
Despite these movements, the whale’s wallet still holds a substantial $75.2 million in Bitcoin. After the recent transfer, the remaining 1,127 Bitcoin were moved to a new wallet address. This activity is notable, as early Bitcoin addresses from the first days of the blockchain are rarely active.
Other similar movements have been reported recently. Another early Bitcoin whale, who had been inactive for over a decade, transferred $610,000 worth of Bitcoin to Kraken earlier this month. In September, a separate whale who mined Bitcoin just two months after its launch moved $16 million to Kraken after a 15-year dormancy.
Bitcoin’s recent price increase, rising more than 7% in the last week and reaching over $67,000, could be a reason why these early holders are cashing out a portion of their assets.
Summary Review: An early Bitcoin whale, who mined the cryptocurrency shortly after its launch in 2009, has transferred $630,000 to Kraken, adding to a total of $5.47 million moved in two months. Despite the transactions, the wallet still holds $75.2 million worth of Bitcoin. Recent price increases, with Bitcoin climbing over 7% in a week, may have prompted the whale to cash out part of their holdings. Similar movements from dormant early Bitcoin whales have been noted recently.
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