As the release of a highly anticipated documentary aiming to reveal the identity of Satoshi Nakamoto draws near, a Bitcoin whale from 2009 has made a significant move by transferring $3.6 million worth of Bitcoin (BTC) to Kraken. This transfer has fueled speculation about the documentary’s potential impact on uncovering Nakamoto’s identity.
Satoshi-Era Bitcoin Whale Transfers BTC to Kraken
According to blockchain analytics firm Arkham Intelligence, a Bitcoin whale who has held BTC since 2009 transferred 221 BTC—worth approximately $3.6 million—to the Kraken exchange. This whale is among the earliest Bitcoin holders, having acquired BTC just a month after the cryptocurrency’s inception.
Arkham Intelligence reported, “A large whale holding Bitcoin since 2009 has moved $3.6 million worth of BTC to Kraken.”
This isn’t the first transfer by this Satoshi-era whale in 2024. On September 24, Arkham tracked a separate transfer of five BTC to Kraken. The whale currently holds 1,215 BTC, valued at over $72.5 million.
Institutional Demand and Bitcoin Supply Trends
During this Satoshi-era whale activity, institutional interest in Bitcoin continues to grow, particularly through U.S.-based spot Bitcoin ETFs. According to CryptoQuant, institutional investors, who were net sellers in September, have since reversed their positions and are now purchasing around 7,000 BTC daily. This is the highest daily purchase rate since July, signaling strong institutional confidence in Bitcoin’s long-term potential.
Meanwhile, the supply of Bitcoin on exchanges continues to decline, drawing comparisons to the 2021 bull run that saw Bitcoin reach all-time highs. With decreasing liquidity and increasing institutional demand, analysts are optimistic that Bitcoin could set new records later in 2024.
Speculation Surrounding the Satoshi Nakamoto Documentary
The upcoming HBO documentary has reignited speculation about Satoshi Nakamoto’s identity. Directed by Cullen Hoback, the documentary explores the origins of Bitcoin and aims to reveal Nakamoto’s true identity. One theory focuses on cryptographic software developer and privacy advocate Len Sassaman, whose role in cryptographic technology and his death in 2011 have fueled speculation that he could be the mysterious creator of Bitcoin.
On Polymarket, 51% of users believe the documentary will identify Sassaman as Satoshi Nakamoto, making him the leading candidate in current speculation.
As the whale’s large BTC transfer draws attention ahead of the documentary’s release, institutional demand and supply trends continue to play a crucial role in Bitcoin’s price trajectory.
Bitcoin whale, Satoshi Nakamoto, Kraken, institutional demand, Arkham Intelligence
