Arman Shirinyan
Bitcoin whales are going through series of massive transfers, here’s what’s behind them
When massive amounts of Bitcoin (BTC) start to move, the crypto community sits up and takes notice. Today, an enormous transfer took place that is sending waves of interest throughout the community. Three Bitcoin whale addresses, which have been dormant for nearly six years, have just transferred a staggering 6,500 Bitcoins. With a current market value of around $230 million, these are no small transactions.
These addresses have piqued interest primarily because of their dormant state. All the Bitcoins in these three wallets were transferred on Nov. 5, 2017, and have not seen any activity since then. This prolonged inactivity is intriguing and raises questions about the motives behind such a move after an extended period.
But what makes these transfers even more fascinating is the historical pedigree of the Bitcoin involved. The source of this Bitcoin traces back to a transfer from July 2011. This period is often referred to as the “Satoshi Era” – a time when Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was still believed to be active in the community.
Such early transactions are historically significant and are viewed with a kind of reverence in the crypto space. Moreover, some of these Bitcoins appear to have links to F2Pool, as identified by bitinfocharts. Given F2Pool’s reputation as one of the earliest Bitcoin mining pools, it is plausible to assume that some early miners are behind these transactions.
Speaking of price appreciation, a brief review of Bitcoin’s recent performance shows a consistent upward trajectory. Over the past few months, Bitcoin has been on a bullish run, breaking resistance levels and reaching new highs. The current atmosphere is optimistic, with many analysts predicting further growth.
