Bitcoin Whales from the Satoshi Era Sell after 10 Years Yet Still Holding 72 Million

CoinJ.com reported:
How about this for “HODL”: A whale who received Bitcoin coins in 2009 and hadn’t touched them for 10 years has finally sold them.
Blockchain data company Arkham Intelligence has been tracking this “Diamond Hands” investor, who last moved their coins in 2014 before the latest batch of transactions.
Since then, the Bitcoin has been gathering dust—until last month when this mysterious holder started 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 today, the company has been transferring to other wallets. According to Arkham, the whale has sold $10.5 million so far, but they still have $72 million ($1,064 Bitcoin) in their wallet.
The problematic investment includes coins from the “Satoshi era”—Bitcoin mined shortly after the network went live in 2009 by the anonymous cryptocurrency creator Satoshi Nakamoto.
A Bitcoin whale refers to cryptocurrency investors who hoard a large amount of digital currency and haven’t touched them for years. It is still unclear from blockchain data whether these “HODLers” are individuals or companies, although considering 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 lead to a drop in Bitcoin prices, as industry observers and traders anticipate a sell-off.
However, the price of Bitcoin hasn’t dropped today, trading at over 2% increase in the last 24 hours, selling at a price of $68,075.
Editor: Andrew Hayward