The “antique whale,” which bought 3,962 BTC in January 2011 when Bitcoin was only $0.375, recently revitalized its wallet after nearly 14 years of inactivity.
According to Onchain Data, the whale has recently begun selling in small batches.
Woke up from sleep, the whale first transferred 450 BTC (approximately $53.42 million). Of these transfers, we found that 150 BTCs have been sent to addresses related to major market makers such as Coinbase, B2C2, WinterMute over the past five days. The strategy is similar to the sales method used by another former whale, gaining momentum over the last few weeks, hosting 80,000 BTC. The whale left through a liquidity provider rather than directly transferring the coin into exchange.
The whale balances at 3,678 BTC, which is equivalent to a wallet worth around $434 million at its current price. The address where the whale holds BTC can be viewed through Arkham.
The Bitcoin price has been trading at $117,795 at the time of writing and remains roughly flat throughout the day.
*This is not investment advice.