Bitcoin Genesis Whale Resurfaces, Moves $3.5 Million BTC to Kraken Amid Satoshi Reveal Documentary Frenzy

An ancient whale, who has been around since the beginning of the creation of Bitcoin, has resurfaced today with a massive BTC transfer, to the tune of $3.5 million. The transaction, reported earlier today on social media, has ignited speculations across the crypto market as participants struggle to find the reason behind it.

Meanwhile, this comes against the backdrop of an HBO soon-to-be-released documentary, which promises to unravel the true identity of Satoshi Nakamoto, the pseudonymous creator of the flagship cryptocurrency.

Ancient Whale Shifts $3.5 Million BTC

According to a report by Arkham Intelligence, a sophisticated crypto transaction tracker, this entity resurfaced about 10 hours ago from writing to move part of its Bitcoin holdings to the Kraken exchange. Per the report, the ancient whale sent a massive $3.5 million coin to the California-based crypto exchange.

Large transactions like this are often interpreted as a sell-off since they are transferred from a cold wallet to a centralized exchange. The purpose of the transaction could be a strategic cash-in on already accumulated gains over its dormant years.

Arkham Intelligence pointed out that the whale holds a staggering 1.69k BTC, valued at approximately $72.5 million, mined in April 2009, one month after Bitcoin launched in February/March.

It is important to note that this whale previously conducted a transaction on September 24 when it sent a notable 5 BTC, worth $315.97k at the time, to the same Kraken exchange.

Satoshi Nakamoto Identity Reveal

Meanwhile, HBO, an American Box Office pay TV network, has created a documentary that is set to unmask the identity of the true creator of Bitcoin, Satoshi Nakamoto.

The 2-minute trailer which was posted on X (formerly Twitter) yesterday caught the attention of the crypto community as they eagerly await the unraveling of the brains behind one of the biggest financial innovations in the last decade.

In the future of money, who holds the power?

The @HBO Original Documentary #MoneyElectric: The Bitcoin Mystery premieres October 8 on @StreamOnMax. pic.twitter.com/3gEwTqYaAq

— HBO Documentaries (@HBODocs) October 3, 2024

According to the credits, the documentary was directed by Emmy-nominated filmmaker Cullen Hoback who gained attention after he produced the controversial miniseries QAnon series “Q: Into the Storm.”

In a post on X, Hoback disclosed that he has been absent from the public eye because he was trying to “track down someone else who disappeared,” referring to the “ghost-founder” of Bitcoin, Satoshi.

Ultimately, the documentary will be released on October 8 and is produced by Alina Solodnikova, Jessie Deeter, and Scott Holroyd; executively produced by Adam McKay.