Bitcoin Holder Of Satoshi Era Transfers BTC Ownership Worth IDR 40 Billion

Bitcoin Era holder Satoshi moved ownership of BTC worth IDR 40 billion (Photo; Doc. Cryptopolitan)

JAKARTA - A Bitcoin holder who has been keeping his assets for more than a decade has just moved 37 BTC worth more than 2.5 million US Dollars (around Rp40 billion). This move adds to the list of whale' that has reappeared in recent times, driven by rising asset prices amid bullish market sentiment.

According to information from Coingape, in early July, a Bitcoin holder moved 37 BTC which is currently worth US$2.57 million, leaving a balance of only US$1.14 (around Rp.18,553) at the address. This asset was purchased in October 2012 and was only moved eleven years later, when bullish activity in the market was increasing. Incidents like this occur due to rising asset prices, where traders often seek quick profits.

This move is a debate on social media, with some praising the decision on the basis of big profits and a waiting period of more than a decade. However, there are also those who argue that the projected price of assets will rise should make the holder not give up his assets.

Satoshi's era holders are known to influence market sentiment with their whale' structure, in contrast to small traders. If some wholesalers move assets in the near period, this could signal massive sales that lower market confidence. In contrast, transfers from centralized exchanges show stronger hodl momentum characterized by an estimated price increase.

Global adoption of ever-increasing crypto assets has pushed prices to new highs this year. This was driven by the approval of the Bitcoin spot ETF by the United States Securities and Exchange Commission (SEC). So far, the crypto spot ETF has recorded billions of dollars in inflows and pushed the asset price to a new record high of 73,000 US Dollars (approximately IDR 1.18 billion).

This price increase is increasing the interest of whole which has been keeping its assets for decades to seek new profits. The upcoming US general election also contributes to price increases with mainstream approaches ahead of elections. Some US lawmakers appear to be taking a positive bipartisan stance on the crypto market.