A Satoshi-era Bitcoin whale previously dormant for 14 years has moved another large sum, transferring roughly $2.4 billion worth of BTC to a new wallet on Monday, according to on-chain data from Lookonchain.
The whale is the same entity behind the recent 80,000 BTC movement, which captured attention earlier this month. Despite the massive scale of the latest transfer, none of the Bitcoin has reached cryptocurrency exchanges, based on current blockchain data.
However, the renewed activity has sparked market speculation, with many wondering if the entity could be preparing to realize profits after holding the assets since the early days of Bitcoin.
Speculation rises amid BTC price volatility
The whale initially resurfaced on July 4, ending a 14-year period of inactivity by moving 80,000 BTC across multiple transactions. At today’s Bitcoin price levels, that hoard would be worth over $9.5 billion.
Bitcoin briefly reached a new all-time high above $123,000 earlier today before experiencing a pullback. At the time of writing, the asset was trading around $116,600, according to TradingView.
While the motive behind the whale’s movement remains unclear, analysts are divided between two scenarios: preparation for liquidation or internal wallet restructuring for security purposes.
For now, markets are closely watching for signs of any BTC hitting exchanges, a likely trigger for price volatility if selling begins.