Ancient Bitcoin Whale Moves Funds, Renewing Satoshi Speculation

A Bitcoin whale from 2009 has recently transferred $630,000 worth of Bitcoin to the Kraken exchange, according to Arkham Intelligence, a blockchain analytics firm.

This particular whale mined their Bitcoin just a month after the creation of the first block on January 13, 2009. In just the past two months, this address has moved nearly $5.5 million in Bitcoin.

After these substantial transactions, the wallet still retains $75.23 million in Bitcoin. The last transfer occurred on October 7 and was of a similar size.

These activities by one of the earliest Bitcoin holders have sparked renewed speculation about the identity of Bitcoin’s enigmatic creator, Satoshi Nakamoto.

An HBO documentary recently named well-known Bitcoin developer Peter Todd as Satoshi, leading to significant backlash in the Bitcoin community, with Todd firmly denying the claim.

While it’s intriguing to consider that this whale could be linked to Satoshi—especially since few people were aware of Bitcoin in its infancy—it’s deemed unlikely.

For example, in May 2020, a transaction thought to be from Satoshi’s dormant wallet actually resulted in a temporary Bitcoin price drop before being disproven. Currently, Bitcoin’s price remains stable, holding above $66,000 after a 5.3% increase.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.