Whale from the Satoshi Era Awakens, Moves 20,000 BTC Worth AU$3.6 Billion
In a move that stunned the crypto world, a dormant Bitcoin wallet dating back to 2010 sprang to life on Monday (14 July), transferring a staggering 20,000 BTC—worth approximately US$2.42 billion (around AU$3.6 billion)—just as Bitcoin surged past the US$123,000 mark.
The transaction was split into two batches of 10,000 BTC, strongly suggesting that the transfer was meticulously planned. The sudden movement of such a large sum from a wallet untouched for over 14 years has triggered intense speculation within the crypto community.
Old Coins, New Questions
These Bitcoin holdings are believed to be from the so-called “Satoshi era”—a reference to the earliest days of Bitcoin when its pseudonymous creator, Satoshi Nakamoto, was still active. While there’s no confirmed link to Satoshi themselves, wallets from this period are rare and closely monitored.
Crypto analysts believe the whale may have moved the funds to enhance security or possibly take advantage of the recent bullish momentum in the market. Some even speculate it could be an early investor cashing out after more than a decade of holding.
Market Reacts with Caution
Despite the enormous value of the transaction, Bitcoin's price did not plummet in the immediate aftermath. However, it has entered a short-term correction phase. As of Tuesday morning (15 July), BTC is trading at around US$118,300, down 1.35% from its previous high.
Still, experts suggest that such activity could increase short-term market volatility, as traders brace for possible large-scale sell-offs. However, many see the whale's move as evidence of a more mature and resilient crypto market compared to previous years.
Why It Matters
Whale movements often trigger fear or excitement among traders due to their potential to sway prices. But in this case, the market's relatively calm response may signal stronger investor confidence and greater liquidity in the Bitcoin ecosystem.
It also raises questions about the future of long-dormant wallets. How many more whales from the early days are still out there? And what happens if they all start to move?
For now, this rare appearance from a crypto relic of the past adds another layer of intrigue to an already eventful year for Bitcoin.
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