Mysterious Bitcoin whale from Satoshi Age moves again to dump 2,000 BTC ($180M) 
Cryptocurrency Nov 15, 2024 Share
A mysterious Bitcoin (BTC) whale from the Satoshi era has moved again, raising more questions about its dormant intentions. In a single move, the mysterious whale deposited 2,000 BTC from different anonymous addresses into a single Coinbase account.
As developed, the whale consolidated 40 addresses holding 50 BTC each from Bitcoin’s mining rewards (coinbase) to make the deposit. These were Pay-to-Public-Key-Hash (P2PKH) addresses, used to make their traceability difficult when deciding to move these funds in the future.
Transaction 983311045cf0bbf09b9469ed9699585194285494d048a96058e9dd444b33b7ae. Source: mempool.space / Finbold
Sani, the founder of TimeChain Index, spotted the mysterious movement, posting about it on November 15.
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🚨🚨🚨 40 coinbase rewards totaling 2,000 BTC from 2010 have just been consolidated and sent to Coinbase Exchange.https://t.co/R3zxKCZMJG pic.twitter.com/RhhSZz63hj
— Sani | TimechainIndex.com (@SaniExp) November 15, 2024
Who is this mysterious Bitcoin whale from the Satoshi era?
What is notable about this behavior is that the wallets remained dormant since 2010, in a period that favored privacy. The 14-year 40 dormant addresses were also used in a way that improved their privacy at that time.
However, by consolidating all these previously unrelated addresses into a single regulated and identified account, the holder has revealed itself. Not publicly yet, at least, but some Coinbase employees will potentially be able to identify this mysterious entity, endangering them.
Furthermore, a Bitcoin.com News report claims to have been monitoring this entity since 2020 through previous similar moves. As reported, this whale has surfaced five times in 2024, consolidating and moving 9,000 BTC from the Satoshi Age.
“The transaction followed the same pattern the mega whale has used before, with no attempt at privacy. One thing’s certain: this whale definitely has a method to its madness. This latest movement by the elusive whale highlights a methodical approach that has persisted through time, with large transfers that have periodically stirred onchain observers.”
– Jamie Redman for Bitcoin.com News
Bitcoin (BTC) price analysis
In the meantime, Bitcoin is trading at $89,200 making the 2,000 deposited BTC worth nearly $180 million. This, however, comes as Bitcoin recovers from a crash down to $87,000 on November 14, when the mysterious whale made its move, likely causing some panic to the market.
Bitcoin (BTC) 24-hour price chart. Source: Finbold
Analysts believe the leading cryptocurrency could be heading to the long-awaited $100,000 price target, as what could be the “biggest bull run ever” unfolds.
So far, it is impossible to know what this mysterious Bitcoin whale from the Satoshi era intends with these transactions. For some unknown reason, the “OG” Bitcoin miner has given up privacy after caring so much about it in the past 14 years—raising more questions than answers.
This move could signal a strategy change to the market, intentionally or not, as the investor now realizes significant gains. The market awaits to see what will be this whale’s next move and if there is any hidden stash left.
Featured image from Shutterstock.