Satoshi-Era Bitcoin Whale Stirs: $2 Billion in BTC on Move

Prominent Bitcoin-themed account on Twitter/X, @BTC_Archive, published data shared by Arkham Intelligence, showing a massive Bitcoin whale returning to activity after five years of dormancy.

Several transactions were spotted by Arkham, carrying billions worth of Bitcoin in fiat.

Reactivated wallet moves billions of USD in Bitcoin

The aforementioned on-chain data source has spotted several hefty transactions, carrying a total of $2 billion in Bitcoin. @BTC_Archive added a comment to the screenshot, stating that this wallet has awakened for the first time since 2019; prior to that it had only made one transaction since 2013.

That was the year when the shadow of the mysterious Bitcoin creator, Satoshi Nakamoto, was still around since he had only gone off the radar three years before that.

In the comments thread, Bitcoin users eagerly responded to the tweet about the awakened BTC wallet. Many wondered about who stands behind these massive Bitcoin transactions. One Twitter user jested that it was Satoshi awakening in order to extend the current Bitcoin 21 million supply, according to a joke by anti-Bitcoiner JP Morgan chief executive Jamie Dimon during the World Economic Forum in Davos this January. Dimon also stated that Bitcoin is a “pet rock,” a blockchain that does nothing, aside from other digital currencies.

After that, many prominent Bitcoiners, including whistleblower Edward Snowden, Michael Saylor and Samson Mow, responded to that, slamming Dimon for his digs at Bitcoin.

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Biggest Bitcoin transaction in 2024

On Wednesday, on-chain aggregator Santiment spotted what it called the largest single Bitcoin transaction made this year so far. It carried more than $665 million worth of Bitcoin (42,870 BTC) and was made between 3:00 p.m. and 4:00 p.m. UTC.

Santiment added that this transaction signified the highest level of hourly crypto movement in almost half a year.

Yesterday, the Whale Alert cryptocurrency tracker detected a whopping 11,502 BTC (evaluated at $497,417,265) transferred to the largest U.S.-based cryptocurrency exchange, Coinbase, too.

Over the past two days, digital gold has lost nearly 2.5% of its price, dropping to the current price level of $42,361. Since last Thursday, when spot-based Bitcoin ETFs were approved by the SEC, the leading global cryptocurrency has declined by 13.54%.