Infamous Satoshi-Era Billionaire Unleashes $244 Million Bitcoin Deposit on Major US Exchange
Owen Gunden, a prominent Satoshi-era Bitcoin holder, has drawn significant attention by transferring 2,401 BTC, worth $244.96 million, to the Kraken exchange, signaling potential selling activity. This move follows prior large internal transfers within his legacy wallets. Gunden still holds 2,499 BTC, valued at $258.58 million. The market is speculating how such moves by early adopters, who accumulated Bitcoin when it was trading at much lower values, might impact price dynamics in the current era of institutional and high-liquidity trading.
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Owen Gunden On Blockchain Radar Again
Owen Gunden is once again making waves in the blockchain space, with the spot Bitcoin market drawing all the attention. Known as one of the Satoshi-era billionaires, Gunden has moved a fresh tranche of coins directly to a major U.S. exchange, Kraken. According to Arkham’s intel dashboard and Onchain Lens, a mysterious transfer of 2,401 BTC, valued at $244.96 million, landed on Kraken just hours ago.
BTC Movements Stir Panic
Earlier this month, Gunden's legacy wallets were already causing panic among crypto market participants. With significant internal transfers and movements of several thousand BTC, it seemed like a consolidation of an old treasury rather than routine trading activity. Now, with 2,401 BTC deposited into Kraken and an additional 2,499 BTC (worth roughly $258.58 million) still under Gunden's control, speculation is rampant that the 'whale' may be preparing to sell.
Market Impact of Satoshi-Era Wallets
Onchain Lens describes Gunden's actions as a textbook example of how early adopters with minimal supply can still dominate market sentiment. These movements are not ETF flows or market-maker inventory but coins accumulated when Bitcoin traded at much lower prices — during the double-digit or triple-digit era. The legacy nature of these funds adds to their weight in shaping trader psychology.
Significance of the $244.96M Deposit
Even though Bitcoin trades above $103,000 today with seemingly deep liquidity, a deposit of this scale — a quarter of a billion dollars from a Satoshi-era billionaire into a U.S. exchange like Kraken — is still enough to impact markets. This event raises questions not just about market liquidity but about who holds the real power over the market's next direction: the influx of institutional money or the occasional 'awakening' of old wallets.