A wallet that has been dormant since the early days of Bitcoin transferred 3,962 BTC worth $469 million to a new address today.
According to Arkham Intelligence data, the whale investor who made this transfer accumulated Bitcoin in 2011 when it was around $0.32.
The wallet in question had been virtually inactive for the past 14 years, recording only small transactions. However, today, the entire balance was found to have been moved to a new address with no previous transaction records. According to Arkham data, this new address was not tagged as an exchange or a reputable wallet.
In 2011, the price of Bitcoin rose from $0.29 to $4.58. Today, the unit price of Bitcoin is trading around $119,000, indicating a 37 million% increase in the value of the whale’s portfolio.
Individuals or groups holding such a large amount of Bitcoin are generally considered early miners. Indeed, this wallet was created during the time when Satoshi Nakamoto, Bitcoin’s mysterious founder, was active online. Nakamoto disappeared from the internet entirely in April 2011.
*This is not investment advice.