A long-dormant Bitcoin whale, believed to be among the earliest adopters of the cryptocurrency, has sold his entire $1.24 billion in BTC stash after holding the asset since 2009. The development has sparked fresh debate across the crypto market, with investors questioning whether the move represents strategic profit-taking or a broader signal about the current cycle.
Bitcoin Whale Move Stash After 15 Years
CEO and founder of Swandesk, Jacob King, revealed in a recent X post that one of the oldest recorded Bitcoin whales has sold his entire BTC holdings worth $1.24 billion. According to King, the whale had held Bitcoin through multiple market cycles since its inception in 2009. Now, nearly two decades later, the early adopter has fully exited the market.
The whale’s journey spans virtually every defining chapter in Bitcoin’s history. He witnessed the collapse of Mt. Gox in 2013, China’s sweeping crypto crackdown in 2017, the long and brutal crypto winter of 2018, and the dramatic fall of FTX in 2022. Despite these major industry shocks, the wallet reportedly remained untouched.
Beyond the downturns and crises, the holder also saw Bitcoin’s transformation into a mainstream financial asset. That evolution included the launch of spot Bitcoin ETFs, growing adoption on Wall Street, and El Salvador’s historic move to adopt Bitcoin as legal tender. After enduring both extreme lows and historic milestones, the whale has now decided to cash out.
Mixed Reactions as Community Questions Timing
The whale’s exit has triggered mixed reactions across the crypto community. While some view the sale as a rational decision after 15 years of holding, others are questioning the timing.
Several market participants have noted that Bitcoin is currently trading roughly 52% below its all-time high, prompting some to ask why a holder who endured previous cycle peaks would sell now rather than during stronger price conditions. For critics, the timing appears puzzling given the whale’s demonstrated long-term conviction.
Meanwhile, it is worth noting that this sale comes at a time when several other long-dormant Bitcoin wallets have recently become active. Reports of early-era addresses moving coins after years of inactivity have become more common.
Interestingly, CoinRemark recently reported on a dormant Bitcoin miner that reawakened after 15 years of inactivity and transferred approximately $4.3 million in BTC. While such movements do not automatically signal coordinated behavior, the recent wave of activity from long-term holders has drawn increased scrutiny from on-chain analysts and market observers alike.
Evans Kelvin
Temitope Olajide
