A Bitcoin whale, dormant for years, has resurfaced and started liquidating its holdings. Known as the “5K BTC OG” wallet by Arkham, this account initially acquired 5,000 bitcoins back in 2012 when each coin was priced at a mere $332—totaling approximately $1.66 million at that time. Fast forward to today, the value of these coins has skyrocketed to nearly half a billion dollars, with half of the stash already sold off.
Data from Lookonchain and Arkham reveals that selling began on December 4th, 2024. Since then, around 2,500 bitcoins have been offloaded through multiple transactions. These sales have generated roughly $265 million at an average price close to $106,164 per bitcoin.
Just recently, another batch of 500 bitcoins was transferred to Binance exchange—worth about $47.77 million—marking the latest phase in this long-term holder’s exit strategy.
The pattern of selling appears methodical and deliberate rather than impulsive. Instead of dumping all assets at once, the owner is moving between 250 and 500 bitcoins per transaction across no fewer than ten transfers directed toward Binance over five months.
This approach likely aims to blend into larger liquidity pools to minimize market impact such as slippage or triggering automated trading algorithms designed to detect large sell-offs.
The Journey Continues
Despite recent sales, the wallet still retains approximately 2,500 bitcoins valued around $237.5 million that could soon enter circulation as well. With Bitcoin hovering just under the $100K mark currently—a critical resistance level—a significant influx from legacy holders might exert downward pressure on prices within an already congested zone.
This whale’s total gains now surpass half a billion dollars—ranking it among Bitcoin’s most lucrative hold-to-exit stories ever recorded. While long-term enthusiasts celebrate such steadfast commitment often dubbed “diamond hands,” many traders remain uneasy given these coins had remained untouched since shortly after Satoshi Nakamoto’s era but are now actively being liquidated piece by piece.
The big question remains: will upcoming sales coincide with rejection near $100K or will market demand absorb them smoothly?