Coin World Report:
How about this for “HODL”: a Bitcoin whale that received coins in 2009 has finally sold them, after not touching them for 10 years.
Blockchain data company Arkham Intelligence has been tracking this “whale” investor, whose last transfer of coins was before the latest batch of transactions in 2014.
Since then, the Bitcoin has been gathering dust – until last month when the mysterious holder began moving the coins to the US cryptocurrency exchange Kraken.
Then, last week, the whale transferred less than $1 million worth of Bitcoin. Since then, including yesterday, the company has been transferring to other wallets. According to Arkham, the whale has sold $10.5 million but still has $72 million ($1,064 Bitcoin) in their wallet.
The problematic investment includes coins from the “Satoshi era” – the Bitcoin mined shortly after the network went live in 2009 by the anonymous creator of the cryptocurrency, Satoshi Nakamoto.
A Bitcoin whale refers to cryptocurrency investors who hoard large amounts of digital currencies and don’t touch them for years. It is unclear from the blockchain data whether these “HODLers” are individuals or companies, although given the early days of Bitcoin, it is most likely individuals in this case.
This movement – especially if the whale is a well-known entity – could potentially cause a drop in the Bitcoin price as industry observers and traders anticipate a sell-off.
However, the price of Bitcoin did not drop today, trading at $68,075 after rising over 2% in the last 24 hours.
Editor: Andrew Hayward