Ancient Bitcoin Whale Sells $9.7M Worth of BTC Amid Ongoing Holdings
An ancient Bitcoin whale has made significant movements in its holdings, selling $9.7 million worth of BTC but still holding onto $72 million. The miner, active since 2009, has been moving funds to the Kraken exchange over two months, according to Arkham Intelligence.
Early adopters like this miner could mine up to 3,000 BTC per day using personal computers due to the low mining difficulty and 50 BTC block rewards. This was a time when Bitcoin's genesis block was still fresh.
The sale of $9.7 million worth of BTC is a substantial amount, but it pales in comparison to the miner's remaining holdings of $72 million. It remains to be seen what the motivations behind this move are, and whether it signals a change in the whale's investment strategy.