Bitcoin Whales moved $230 Million to New Address

[ultrloa]

Three Bitcoin whale addresses transferred 6,500 Bitcoins to new addresses, totaling about $230 million.

It's a huge amount and the best part? Some Bitcoins came from the wallet address marked as F2Pool by bitinfocharts, which may be early miners.
So these early miners have kept their 6.5k Bitcoin saved until now. 12 Years later, that's worth a freaking $230 Million Dollars.

IF they are not dumping then those transfer is fine since maybe they just want to move their hidden bitcoin to another wallet for security or other things they need especially that bull run is about to come. But eventhough there's nothing to worry about such movement they do still we need to watch how those balances move since if the owner will decide to cashout all of it  when bull run is already happening then maybe that's also a indicator for others that they should secure their profits to.

Lucky for those early miners before which still have stored bitcoins in their wallet since they really became so damn rich at  current price especially if they have the same like that or maybe even more larger volume on their wallets.

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[lombok]

This is what is called investment. Hoarding and storing Bitcoin for a long time. 6,500 Bitcoins, if 12 years ago it might have only been worth hundreds of dollars, is now worth millions or even billions of dollars. Whoever the owner is, he understands the value of Bitcoin in the future and bravely takes the decision to continue holding it.

[michellee]

I can't imagine how these whales feel seeing Bitcoin's journey from the beginning of their ownership of Bitcoin until now. And why are they only now starting to move their Bitcoin? Is it because of speculation about Bitcoin price rising above $100k?

Or they want to create a sensation among other investors, especially because we don't know who owns the Bitcoin. But that could be their thinking so they can immediately sell their Bitcoin and take the profits. But whatever the reason, only they know and we can only guess.

Will this make the price of Bitcoin increase or instead raise concerns that the price of Bitcoin could decline further? No one knows. Well, let's just wait and see what happens next.

[Cryptomultiplier]

For me these whales have done more advertising for the HoDL strategy of investment and any other method of investment that any newbie would be willing to attempt for a duration of time. I like it when whale news like this comes, it more than encourages other investors to think long term and make projected plans for the future of their financial life and retirement.

Such whale movement would have somehow affected the Bitcoin market or slowed down transaction time for the movement from one wallet to another.

[sunsilk]

Amazing.

These early mined Bitcoins has been kept for so long and these miners have cared for that how many years and they've got the patience to keep it for this long.

Anyway, if they're going to dump all of those then the wait is over but it could be higher in value if they're going to wait for the next bull run.

[Bitstar_coin]

Bull season is fast approaching,  whales are warming up to explore the market to the fullest. I doubt any sensible and rational thinking whale will want to dumb such amount to btc now when the market looks like getting ready to a fun ride into the next ath.
Whales moving btc from one wallet to another or to an exchange wallet is nothing new especially now that market is looking alive.

[dothebeats]

In the past there were many mislabeled wallets as F2Pool. That pool has been around for a very long time and all these analysis companies make mistakes when they label them.

Most likely it’s an old hodler and he is moving to a new wallet which has better security. As long as they are not sent to an exchange, then I wouldn’t worry. The real worry will be when the MtGox coins move or when those seized coins start to move.

That is a lot of bitcoins, though I doubt they will be sending it to auction any time soon. Most of these bitcoin movements from old, dormant addresses aren't a concern these days especially if there's a good market movement that is happening on the background. You're right, the guy is probably just moving his stuff from one place to another in order to secure it even further. There's still a lot of uptrend potential given the market conditions right now that it's a waste to sell that much coins in today's exchange rate, unless that person is looking to get a mansion somewhere or take the hit and live comfortable for the rest of their lives.

[philipma1957]

Well, those people are already already rich, apart from the value of those Bitcoins, otherwise they wouldn't have been able to hold out for so long without selling even a part of them. I imagine that if they move them now it will be because they expect to sell with the expected price increase in the near future, no? I understand that this is the most likely scenario.

But why not just use let the coins stay to the original address? Wouldn't that still do the same thing? To me, this looks like there's an over the counter deal for those bitcoins and they don't want to leave any digital footprints of the money that they've got for the bitcoins.

Who cares?

Probably those people that bootlicks billionaires too, they're all delusional about this stuff like they daydream that they could probably be the whale and that they would probably do the same, they get off to this kind of stuff because they like the idea of at least being the whale in their dreams.

well how about the guy has 130,000 coins and has cut a deal needing cash at 230 million.  moving 6500 coins to cash them for a deal or even moving 6,500 in coins to the person that wants payment for the deal is as possible as any other  reason.

[hd49728]

In the past there were many mislabeled wallets as F2Pool. That pool has been around for a very long time and all these analysis companies make mistakes when they label them.

Most likely it’s an old hodler and he is moving to a new wallet which has better security. As long as they are not sent to an exchange, then I wouldn’t worry. The real worry will be when the MtGox coins move or when those seized coins start to move.

Mislabeling can be a reason on tip of iceberg and even I don't have evidence to say it is actual mistake by mislabeling or it is intentionally done to hype or fear the market.

Big transactions always are executed when market needs big news and only this is enough for me to have suspicious about those transactions. Whales have a lot of time to move their coins but why they don't do it when market does not need big news.

Those transactions as well as considerable changes in Exchange Inflow and Outflow can make the crowd overthink about a next movement, trend of the market. I consider it as a kind of market manipulation, from on chain movements to news on social media.

[bayu7adi]

Whatever is the reason of moving their bitcoins to another wallet it is not yet confirmed that they have move to the exchanges to sell it. These whales are more intelligent and have more knowledge then the common man, it is already obvious that Bitcoin halving is near and the Bitcoin will move to another all time high so why would they be selling all the bitcoins at a very cheap prices. It really doesn't make sense to sell now and I think we should not be panic by the movement of these coins from one wallet to the another specially at this stage of the market.

You might think they're more clever than we, but you don't really know what's on their minds today. sell BTC now still seems possible for everyone, even the whale's movements are hard to predict. We can anticipate the next bull run at the halving, but we've already moved from the $25k level to the recent $35k level... that means selling now is still a better option than it was two weeks ago.

What's even more remarkable is that there's not just one old wallet with a large balance... there are many wallets, and they could potentially lead to a relatively quick market dump. Plus, the accumulation by institutional investors always looms over price movements. When they decide to take profit, there's no avoiding that bearish market... like the BTC owned by MicroStrategy, for example. We dont know what they minds.

[Lucius]

Amazing.
These early mined Bitcoins has been kept for so long and these miners have cared for that how many years and they've got the patience to keep it for this long.
Anyway, if they're going to dump all of those then the wait is over but it could be higher in value if they're going to wait for the next bull run.

There is nothing here that could be described as "amazing", because some seem to forget that in the first 4 years of mining, miners were rewarded with as much as 50 BTC per block, and at that early stage it was possible to mine even with personal computers. Someone could have mined those 6500 BTC in just a few days, and I have no doubt that he didn't sell a good part of mined coins in the last bull runs.

People who were lucky enough to mine in those times actually mined millions of BTC, and I think they saved a good part of it to this day.

[sunsilk]

Amazing.
These early mined Bitcoins has been kept for so long and these miners have cared for that how many years and they've got the patience to keep it for this long.
Anyway, if they're going to dump all of those then the wait is over but it could be higher in value if they're going to wait for the next bull run.

There is nothing here that could be described as "amazing", because some seem to forget that in the first 4 years of mining, miners were rewarded with as much as 50 BTC per block, and at that early stage it was possible to mine even with personal computers. Someone could have mined those 6500 BTC in just a few days, and I have no doubt that he didn't sell a good part of mined coins in the last bull runs.

For me, I am amazed with that. Maybe they've forgotten that for years but they could have moved that in the past years where there were also bull runs.

People who were lucky enough to mine in those times actually mined millions of BTC, and I think they saved a good part of it to this day.

And that's the amazing part for me that they seem to be lucky and they've just moved it now. The patience, maybe not the timing or they'd just transferred it and will hold for several months and years again but likely to sell some of it.

[danadc]

In the past there were many mislabeled wallets as F2Pool. That pool has been around for a very long time and all these analysis companies make mistakes when they label them.

Most likely it’s an old hodler and he is moving to a new wallet which has better security. As long as they are not sent to an exchange, then I wouldn’t worry. The real worry will be when the MtGox coins move or when those seized coins start to move.

That is a lot of bitcoins, though I doubt they will be sending it to auction any time soon. Most of these bitcoin movements from old, dormant addresses aren't a concern these days especially if there's a good market movement that is happening on the background. You're right, the guy is probably just moving his stuff from one place to another in order to secure it even further. There's still a lot of uptrend potential given the market conditions right now that it's a waste to sell that much coins in today's exchange rate, unless that person is looking to get a mansion somewhere or take the hit and live comfortable for the rest of their lives.

What I think is that whatever is the reason for having transferred those bitcoins to another place , it may be that they have it as they say, better protected, but they also have them to transfer them more quickly to an exchange to make a very good movie We don't know, but these things put people on alert, because they probably want to do something, we are almost in December and it is very logical that there could be a good bitcoin rally, that's what I can think, it's my way of seeing it. The good things of 2023 are comin g, it would be very good but everything indicates that the best is around 2024 or at the end of 2024, and there is still a long way to go , for the most patient there is little left.