30s Summary

An early Bitcoin investor, who has held Bitcoin since five days after its creation in 2009, has transferred $5.47m worth of the cryptocurrency to the exchange Kraken in the past two months. Despite the large transfers, the investor still holds around $75.23m worth of Bitcoin. The move of funds from early Bitcoin wallets is a rare occurrence but suggests the holders may be looking to cash out big. The value of Bitcoin has risen significantly over the past year and currently stands at over $67,000.

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An old-timer Bitcoin investor who had been holding onto some Bitcoin since just five days after it was first created in 2009, has recently sent some of his stash, about $630,000 worth, to the crypto exchange Kraken. That makes a total of about $5.47 million of Bitcoin that this early adopter has shifted to Kraken over the past two months, as mentioned by the data firm Arkham Intelligence in a post on October 14.

Now, don’t get it twisted, despite these recent transactions, this Bitcoin big shot still has a cozy nest egg of $75.23 million worth of Bitcoin. After the latest transfer, the remaining 1,127 Bitcoin in that old wallet were relocated to a new wallet address.

Funny enough, funds from Bitcoin wallets created in the early days rarely move around. But these holders might be eyeing to cash out big. We saw something similar on October 3, when another Bitcoin purity tester moved 10 Bitcoin, worth $610,000, to Kraken. According to Arkham, these coins had been inactive for at least ten years.

Even more interesting, in September, Arkham observed another quiet Bitcoin sea monster who woke up after mining Bitcoin just two months after it was launched. After a 15 years nap, he shifted $16 million to Kraken.

Bitcoin’s price has been increasing in the past week, jumping by 7.45% and crossing the $67,000 boundary. No wonder these heavyweight holders are considering parting with their pile. Over the past year, Bitcoin’s price has been quite a rollercoaster. It dipped to $28,000 but also soared to an all-time high of $73,000 in March.

As per the Crypto Fear & Greed Index which gauges the mood of the market, things have been pretty cheery recently. The latest October 16 update reported a score of 73 out of a total of 100, denoting “Greed”, a sentiment it has maintained for two consecutive days. The last time the index clocked in a score over 73 was when Bitcoin was around $66,000 back on July 29.

Source: Cointelegraph