Bitcoin whale resurfaces with $175M BTC transfer

On November 14, 2024, a long-dormant Bitcoin (CRYPTO:BTC) whale resurfaced, moving 2,000 BTC, valued at approximately $175.61 million, from wallets dating back to 2010.

This transfer occurred at block height 870,329 and was first detected by btcparser.com.

The whale consolidated funds from 40 Pay-to-Public-Key-Hash (P2PKH) addresses into a single Pay-to-Script-Hash (P2SH) address.

Despite the significant transfer, no privacy measures were employed, resulting in Blockchair assigning a low privacy score of zero out of 100 due to identifiable addresses and a full-balance transfer.

This is not the first time the enigmatic whale has moved a substantial amount of Bitcoin.

The whale last emerged on May 22, 2024, when it transferred another 2,000 BTC.

Notably, these larger moves are infrequent, with the entity typically moving 1,000 BTC or 20 block rewards at a time.

Over the years, this whale has executed multiple significant transfers, including five appearances in 2024 alone, totaling 9,000 BTC moved from 2010-era wallets.

The whale’s consistent approach, involving similar transfer patterns and clustering dormant block rewards, suggests calculated strategies.

Analysts remain intrigued by its motivations, which are still unclear.

The recurrence of such large transfers, along with their methodical execution, indicates a strategic, long-term outlook that has persisted over a decade.

This mysterious activity serves as a reminder of the latent power held by early Bitcoin holders.

Whether these movements signify a broader plan or are a show of presence, they highlight the underlying dynamics and silent actors influencing the cryptocurrency landscape.

At the time of reporting, the Bitcoin price was $87,765.98.