Bitcoin.com News stated yesterday (7th) on social media platform X that the Bitcoin blockchain welcomed the awakening of a whale that had been asleep for nearly 10 years at block height 908992. On-chain data shows that this whale transferred 3,000 Bitcoins at once, worth up to 350 million USD.
10-Year Return 340 Times
Bitcoin.com News further pointed out that these 3,000 Bitcoins were dispersed and stored in 30 cryptocurrency wallets, with each wallet holding exactly 100 Bitcoins. Moreover, these wallets were initially funded on November 10, 2015, when the closing price of Bitcoin was only 336 USD per coin, totaling about 1.008 million USD. Now, with Bitcoin rising to nearly 120,000 USD, the market value of this batch of Bitcoins has soared to 348.72 million USD, with a 10-year return rate of 34,548%.
Is the market facing selling pressure again?
It is worth mentioning that recently several ancient whales have awakened and cleared their holdings of Bitcoin. For example, an ancient whale holding 80,000 Bitcoins (worth 9 billion USD) completed their sale through Galaxy Digital.
However, Bitcoin.com News pointed out that, unlike the transfer patterns of other awakened Bitcoin whales in the past two months, this whale did not consolidate funds into a single account but rather dispersed the Bitcoins again into multiple P2WPKH (Pay-to-Witness-Public-Key-Hash, a format for Bitcoin wallet addresses designed for SegWit) wallets. Therefore, this method of dispersed transfers has led outsiders to speculate that this whale may continue to hold Bitcoin, and the transfer of funds is merely seeking greater security.
However, some have pointed out that this whale may also intend to diversify its funds to reduce tracking difficulty or prepare for subsequent sales, and the market may face short-term selling pressure risks.
