$8.6 billion Bitcoin transfer from 2011 wallets is not likely for sale.

A recent $8.6 billion Bitcoin transfer from wallets untouched for 14 years isn’t likely for sale, says Arkham. The move of 10,000 BTC may be due to upgrading to Native SegWit addresses for security and lower fees. All Bitcoin was originally deposited in 2011 and remains in new wallets. Source: Arkham.

10x Research suggests early Bitcoin holders may be offloading into ETF and corporate treasury demand. Meanwhile, prominent Bitcoiner PlanB converted holdings to spot Bitcoin ETFs for peace of mind. Coinbase’s Conor Grogan speculates a slight chance of a hack in the $8.6 billion transfer, potentially the largest robbery ever.

Binance’s CZ jokes, “I got into crypto too late,” after seeing the 2011 whales casually move crypto they got for $0.1. The industry takes a light-hearted approach to the massive Bitcoin transfer. Some speculate on potential hacks, while others highlight the historical significance of the move. Source: CoinTelegraph.

Read more at Cointelegraph: No Indications of Sell-Off in $8.6B Bitcoin Whale Transfer