Mysterious Bitcoin Whale Moves $8 Billion in ‘Largest Daily’ Transfer of Old BTC in History

A whale that one Bitcoin Fortune for 14 years On Friday, the huge stock of 80,000 BTC began to move – WORTH $ 8.6 billion at today’s prices.

The coins started to move in batches of 10,000 BTC, or about $ 1 billion in BTC, early morning New York Time on Friday, according to data from Arkham Intelligence. Around 11 am Eastern Time, the $ 8.6 billion in Crypto was moved to new addresses.

Blockchain observers with eagle eyes were quickly on X that the movements came from an entity that had received the coins in 2011 as “Coinbase” transactions-the first transaction in a block created by miners. When miners make new blocks on the blockchain, they are rewarded with newly beaten digital coins.

Cryptoquant’s head of research Julio Moreno told Decrypt: “It is the biggest daily movement of coins of 10 years or older in history.” He added that the previous record for a whale that held this to Crypto for a long time was a transaction of 3,700 BTC, which faded in comparison.

Crypto analyst for cryptoquant yes Maarartun written On X: “Analyzing Bitcoin in eight years I have never seen anything like that” and notes that the entity that is linked to the Bitcoin addresses that did transactions on Friday has held around 200,000 BTC at some point.

Conor Grogan, the director of America’s largest crypto exchange coinbase, placed on X that the entity connected to the addresses had a fortune of $ 21.5 billion -which meant they had one of the top five largest holders of Bitcoin in Crypto history.

Grogan added that if he had to guess, the Bitcoin wallet is probably an “OG miner”, which means that someone who was very early to mines BTC on the network.

In the world of crypto, a whale is someone who has a large amount of digital coins and tokens. A Bitcoin Walvis is usually defined by an entity with 1,000 BTC – WORTH $ 108 million at today’s prices – or more.

Experts told earlier Decrypt That although difficult to say, whales are not always individual investors, but also companies that are involved in the mines of Crypto. Although, in view of the fact that the stock of coins that moved today, were acquired years before the industrial bitcoin -mining time, it is someone that the interests belong to a single person or group.

Bitcoin was recently traded for $ 107,895 per coin, according to To Coingecko, after having fallen by almost 2% for a period of 24 hours. The leading cryptocurrency is approximately 4% compared to the record height of $ 111,814 that it was set in May.

When whales start to move their coins after years of “Hodling“Markets tend to move as investors on threatening sales and therefore expect downward price promotion.