Blockchain intelligence company Arkham stated that the $8.6 billion Bitcoin transfer that occurred on Thursday is the first of its kind in 14 years, but there appears to be no signs of a sell-off.

Arkham said in a post on X on Friday: "There are no signs that this 'whale' is selling Bitcoin." Arkham added that these eight transfers—each involving the transfer of 10,000 Bitcoin (BTC) from eight wallets that had not moved for over 14 years—might be due to the holders upgrading from their original old wallets to native SegWit addresses, which are said to have lower security for renewal fees.

Arkham stated that the Bitcoin transfers "may be related to" wallet upgrades.
"The $8 billion transfer yesterday may be related to address upgrades, moving from a 1 address to a bc1q address," Arkham said.

Arkham stated earlier on Friday that all Bitcoin was initially deposited into these wallets on either April 2 or May 4, 2011, and had not been moved for over 14 years. The company added that these Bitcoins are now stored in eight new wallets and have not been transferred since.

Blockchain research firm 10x Research stated in an article on the same day that while there is no clear evidence suggesting a large amount of Bitcoin is being prepared for sale, their analysis "has long indicated that early holders are gradually shifting towards ETF and corporate bond demand."

Changpeng Zhao said he entered the market "too late" after the 'whale' activity.
Just in February, prominent Bitcoin user PlanB revealed that he had converted all his Bitcoin holdings into spot Bitcoin ETFs. "Not having to worry about managing keys gives me peace of mind. I guess I'm no longer a super-rich person," PlanB said in a post on X on February 15.

Meanwhile, Coinbase's product head Conor Grogan raised a more concerning possibility.

Grogan stated that the $8.6 billion Bitcoin transfer is highly likely to have been caused by hackers, and if true, it could be the largest heist in history.

"If true (I reiterate, this is just some inconsequential speculation), this would be the largest theft in human history to date," Grogan wrote in a post on X on Friday.


"After seeing the giant whale from 2011 casually moving their cryptocurrencies acquired at $0.1,

#大而美法案 #长期持有策略 #非农就业数据来袭

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