Before the release of the documentary that will reveal the identity of Satoshi Nakamoto, a Bitcoin from 2009 
$62,198 whale transferred $3.6 million worth of BTC. This move increased the expectation that Nakamoto would be identified with the documentary.
Satoshi Era Bitcoin Whale Moved BTC to Kraken
As reported by blockchain analysis firm Arkham Intelligence, the Satoshi-era Bitcoin whale, who has been holding BTC since 2009, transferred 221 BTC to the Kraken exchange. This amount is worth approximately $3.58 million. Whale purchased BTC a month after the launch of the cryptocurrency market, making these coins among the oldest. Arkham Intelligence used the following words in its statement on the subject:
The big whale, who has been holding BTC since 2009, transferred BTC worth $3.58 million to Kraken.
This isn’t the first transfer the Satoshi-era Bitcoin whale has made this year. On September 24, Arkham noted that another five BTC had been transferred to Kraken. Currently, the whale holds approximately 1,215 BTC, which is worth over $72.5 million.
Institutional Demand and Bitcoin Supply Trends
During the Satoshi-era whale movement, institutional interest also continues to grow, particularly through US-based spot Bitcoin ETFs. According to CryptoQuant, institutional investors who were net sellers in September are now reversing their positions and buying approximately 7,000 BTC per day. This marks the highest daily buying rate since July and demonstrates institutional confidence in Bitcoin’s long-term potential.
At the same time, the amount of Bitcoin on exchanges continues to decrease, a similar indicator of Bitcoin’s previous rally towards its 2021 peak. With decreasing liquidity and increasing institutional demand, market analysts are optimistic that Bitcoin could break new records later in 2024.
Satoshi Nakamoto Documentary Revitalizes Speculation
The upcoming HBO documentary has triggered new speculation about who Satoshi Nakamoto is. The documentary, directed by Cullen Hoback, aims to investigate the origins of Bitcoin and potentially reveal the identity of Nakamoto.
One theory centers on cryptographer and privacy advocate Len Sassaman. Len Sassaman’s role in cryptographic technology and his death in 2011 led to speculation that he may have been the mysterious creator of Bitcoin.
On the Polymarket platform, 51% of users believe the documentary will portray Sassaman as Satoshi Nakamoto, making him the leading candidate in current speculation.
While the Bitcoin whale’s large transfer attracted attention in the market ahead of the Satoshi certification, institutional demand and decreasing supply trends also stand out as important factors behind the rise in Bitcoin’s value.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
