This Bitcoin Whale Has Held $500 Million of Bitcoin for Five Years

April 30, 2020, by Maayan
Cryptocurrency analysts say that one wealthy Bitcoin “whale” hasn’t spent or moved their wallet balance since April 2015.

One Bitcoin Whale Hasn’t Moved Their Crypto Balance Since 2015

One wealthy Bitcoin investor hasn’t moved their wallet balance in over five years, according to the crypto analytics company CoinMetrics.

The Bitcoin “whale” in question owns 68,000 BTC, which is currently worth $526 million. None of that balance has been moved since April 2015, when it was worth $17 million.

The wallet makes up 0.37% of Bitcoin’s supply (18.3 million BTC or $142 billion).

One likely explanation is that this is a “cold storage” wallet. Presumably, the owner withdrew some funds to a smaller “hot wallet” in 2015 in order to keep the larger wallet secure.

The news is somewhat unusual, as many wealthy Bitcoin whales move their funds quite frequently. Often, the biggest Bitcoin holders are exchanges, which hold Bitcoin on behalf of many individual users. Those large wallets send and receive Bitcoin almost daily.

That does not seem to be the case in today’s news.

However, CoinMetrics did not identify a specific Bitcoin address, so it is ultimately impossible to say who owns the $500 million account―only that the money hasn’t moved at all.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.