Bitcoin News Today: Bitcoin Whale Moves $4.77 Billion to New Wallet

A massive Bitcoin whale, holding 80,000 Bitcoin from the Satoshi era, has recently transferred the second half of its holdings to a new wallet. This move comes just days after the whale sent billions in Bitcoin to Galaxy Digital. According to blockchain analytics service Lookonchain, the whale shifted 40,192 Bitcoin, valued at approximately $4.77 billion at current prices, to a new wallet, raising speculation about a potential sale.

The whale had previously moved 40,009 BTC to asset manager Galaxy Digital on Tuesday. Galaxy Digital then sent 6,000 BTC to crypto exchanges Binance and Bybit, actions that have been speculated to be linked to a sale. This series of transactions has drawn significant attention from the crypto community, as the whale's movements could have substantial implications for the market.

Lookonchain first identified the whale on July 4, when it began shifting its holdings for the first time in 14 years. At that time, the whale had eight wallets, with two receiving 20,000 Bitcoin on April 2, 2011, and the other six receiving 60,009 Bitcoin on May 4, 2011. The value of these holdings at the time of acquisition was relatively low, with Bitcoin trading at $0.78 and $3.37, respectively.

This recent activity by the whale has sparked discussions about the potential impact on the Bitcoin market. The whale's decision to move such a significant amount of Bitcoin to a new wallet and subsequently to exchanges suggests that a sale could be imminent. However, it is important to note that the whale's actions do not necessarily indicate a bearish sentiment, as the movements could be part of a larger strategy or reallocation of assets.

Bitcoin's creator, Satoshi Nakamoto, remains the largest holder of Bitcoin, with 1.096 million across thousands of wallets. Unlike the recent whale activity, Satoshi Nakamoto has never moved or sold their holdings, maintaining a steadfast position in the crypto community. Other notable Bitcoin holders include the Winklevoss twins, founders of a crypto exchange, who are estimated to hold about 70,000 Bitcoin, and venture capitalist Tim Draper, who has around 30,000 Bitcoin purchased at a 2014 US Marshals auction. Additionally, Michael Saylor, co-founder of a strategy firm, holds around 17,732 Bitcoin outside of his company's holdings.