Ancient Bitcoin Whale Transfers $6.3M to Exchanges

The ancient Bitcoin whale (3GvxX) has resumed its BTC transfers this week, kicking off with two transfers to a Kraken deposit address (3Pfp6). The first transfer was of 10 BTC on 14 October. The second, of 12 BTC, followed almost 24 hours later on the 15th. The recent two transfers are the latest outflows in a string of transfers that started 2 months ago with a 1 BTC transfer to Kraken. Since then, the whale has made transfers to Kraken on a weekly basis, with a total outflow of 98.5 BTC (~$6.29M) so far.

This pattern of small, regular transfers to an exchange is a notable strategy. It suggests a methodical approach to liquidating assets, possibly to avoid causing significant market impact or to manage personal cash flow over time.

This Bitcoin whale was an active miner just five days after Bitcoin’s genesis block in January 2009, having accumulated a stash of over 2,000 BTC, or 40 blocks of rewards. These rewards were eventually consolidated all to a single address (1CEq1) in 2011, then split into two addresses, 19StT and 1E3P1. 19StT’s stack of 1,225 BTC leads us to the recent deposits into Kraken, while 1E3P1 had already transferred the majority of its BTC to Bitstamp in several transactions between 2014 and 2017.

The history of this entity is remarkable. Being an active miner in the first week of Bitcoin's existence places this whale among the network's earliest participants, and their on-chain history provides a rare glimpse into the long-term behavior of a "genesis" era miner.

The whale currently holds 1,127 BTC ($74.12M). At the current rate of transfers, they will finish selling their BTC by Q3 2025.

This remaining holding is still substantial. The Q3 2025 projection provides a clear timeline for this whale's potential exit from their position, assuming their current methodical, weekly transfer schedule remains unchanged.