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Owen Gunden is back on the blockchain radar, and once again, it’s the place Bitcoin market which is getting all the attention, as one of the most well-known billionaires of the Satoshi era is moving a new tranche of coins directly to a large US exchange, Kraken.
According to Arkham’s intel dashboard and Lens Onchaina mysterious investor deposited an additional 2,401 BTC into Kraken, a one-time transfer of $244.96 million that landed a few hours ago.
At the beginning of the month, his addresses were already causing panic among the participants of the crypto market; with large internal jumps between legacy wallets, several thousand BTC were moved in what looked like consolidation of an old treasury rather than routine trading activity.
However, until today, most of those flows have been in Gunden’s own ecosystem. Now, with 2,401 BTC actually landed on Kraken and the remaining balance is still sitting 2,499 BTC — about $258.58 million at current prices — the story naturally shifts from “the whale is reorganizing” to “the whale is actively ready to sell.”
Market of the era of Satoshi
Onchain Lens, the account that first highlighted the move, treats Gunden as a textbook example of how little supply early adopters need to move to set the tone for the day. These are not ETF flows, not market inventory, but coins that were accumulated when Bitcoin it was trading for double or even triple digits, long before derivatives or structured products existed.
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Although Bitcoin now trades above $103,000 with deep liquidity on paper, a deposit of a quarter of a billion dollars by a Satoshi-era billionaire in a single US location is still enough to make traders wonder who controls the next big move: the new institutional money or the old wallets that could wake up at any moment.
