Bitcoin
An ancient Bitcoin whale recently activated, drawing attention from crypto users who hailed the long-term holder for his "conviction." Pixabay

KEY POINTS

  • The whale account's $BTC stash grew to a staggering $80 million from $474,000
  • The 'rare' Bitcoins were last transferred way back 2014 before the whale wallet went dormant
  • Crypto users are in awe of the ancient whale's conviction on Bitcoin's long-term value

Bitcoin whales, the individuals or entities enjoying life on top of the cryptocurrency realm's ranks, have become a major engagement driver in the industry as their movements and massive transactions are widely followed.

The "ancient" whales are on a different, more respected level. These long-term BTC holders are not just recent, one-time-big-time buyers. They are the OGs – a term often used by crypto holders to describe early adopters – of the community, even with their mysterious nature.

On Tuesday, news of an early BTC whale's movement stirred up the crypto space anew, as this particular whale moved his stash mined from way back 2009.

The Reawakening of an OG Whale

Leading blockchain analytics firm Arkham Intelligence was first to unveil the transactions of the whale Tuesday, revealing that the whale moved 5 Bitcoins held dormant for nearly 10 years.

In the last three weeks, the whale has moved a total of 10 BTC to Kraken in three separate transfers, Arkham data showed. In the last decade, the value of the whale's Bitcoin treasury ballooned from $474,000 to over $80 million.

The data further showed that the Bitcoins were mined in February and March 2009, just a month after the official launch of the world's first decentralized digital asset, and months after pseudonymous creator Satoshi Nakamoto first introduced the digital coin to the world.

Before Tuesday's transfer, the coins were also moved several times between 2011 and 2014 before the whale wallet retreated to darkness.

Crypto Users Ponder on 'Legend' Whale's Activity

As was the case whenever dormant whale accounts reawaken, crypto users on X immediately gathered to discuss the ancient whale's transactions.

"Looks like old homie pulled some out for life," one user said, congratulating the BTC "legend" for the "secured win" as a result of holding his Bitcoin stash for over a decade.

One user said it "blows your mind" to just think about how long the whale hodled and waited for his stash to grow in the millions, and another noted how the development "shows true conviction in $BTC."

Stonie, the founder of Shieldfolio, also shared his thoughts on the transfer, pointing out how the whale "basically just gave away all his rare sats to Kraken." He accompanied his comment with a photo showing just how "rare" the Bitcoins were.

Meanwhile, Bitcoin has been challenging $65,000 since the weekend. As of writing, the top digital asset is trading at around $63,700 after it plunged at one point in the last 24 hours to $62,800. Despite the plunge, it has been up by over 5% in the past week, as per CoinGecko, and is expected to trigger the next bull run if it retains the green line through the end of the month.

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