⏰ Act Early, Profit Big!
Be among the first to access the newest altcoins. Don't miss out, click now!

Satoshi Era Bitcoin Whale Emerges: $43.9M in BTC Moved After a Decade of Dormancy

  • A decade-old Bitcoin wallet, dormant since 2014, has suddenly transferred all its 687.33 bitcoins, worth nearly $44 million, on May 6, 2024.
  • The wallet had received the bitcoins when they were valued at $630,000, at a time when Bitcoin’s price was $917 and Satoshi Nakamoto was still active.
  • The movement of such old wallets often triggers speculation within the crypto community, with some suggesting they could be linked to Bitcoin’s creator.

A dormant Bitcoin wallet from the Satoshi era has suddenly transferred all its holdings, sparking curiosity and speculation within the crypto community.

Satoshi-Era Bitcoin Wallet Springs to Life

The wallet in question had been dormant for 10.3 years before it transferred its entire holdings of 687.33 bitcoins, valued at nearly $44 million. The wallet had received these bitcoins back on January 12, 2014, when Bitcoin’s price was $917. The sudden movement of such an old wallet often triggers curiosity and speculation within the crypto community, with some suggesting that wallets from this period could be linked to Bitcoin’s creator, Satoshi Nakamoto.

Potential Sell-Off Raises Concerns

Despite theories associating these wallets with Satoshi, experts suggest they likely belong to early miners or investors looking to capitalize on Bitcoin’s recovery. Over the past week, Bitcoin has gained almost 4%, climbing to around $65,500 before another retracement took place. Hence, the transfer raises concerns about a potential sell-off, possibly indicating a move to offload a large Bitcoin reserve.

Decade-Long Dormant Bitcoin Whale Movements in 2024

As Bitcoin’s price surged above $70,000 earlier in 2024, the crypto market awakened several dormant whales. One such entity, who had accumulated nearly 4,300 BTC a decade ago at an average price of less than $30, made their first transfer in over ten years, moving 246 BTC worth close to $17 million in the first week of April. With an average purchasing price of $29.39 in 2013, this whale’s return on investment (ROI) stood at a whopping 230,000%.

Lost Coins Constitute 8.5% of Bitcoin’s Overall Supply

A recent study conducted by Fortune and Chainalysis found that there are roughly 1.75 million Bitcoin wallets that have been inactive for a decade or more. These addresses hold a total of 1,798,681 bitcoins, valued at approximately $121 billion as of mid-March. Notably, these “lost” coins constitute about 8.5% of Bitcoin’s overall supply of 21 million, with 93% of the total supply already mined.

Conclusion

The sudden movement of decade-old dormant wallets often triggers speculation within the crypto community. While some believe these wallets could be linked to Bitcoin’s creator, experts suggest they likely belong to early miners or investors looking to capitalize on Bitcoin’s recovery. With Bitcoin’s price on the rise, it remains to be seen how these movements will impact the market.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Pear Protocol Secures $4.1M in Strategic Funding Led by Castle Island Ventures

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

SEC DELAYS GRAYSCALE SPOT SOLANA ETF

SEC DELAYS GRAYSCALE SPOT SOLANA ETF $SOL #Solana

SEC DELAYS TRUTH SOCIAL SPOT BITCOIN ETF

SEC DELAYS TRUTH SOCIAL SPOT BITCOIN ETF $BTC #Bitcoin $BITCOIN...

Ray Dalio Recommends Allocating 15% of Assets to Gold and Bitcoin for Optimal Investment Portfolio

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Bridgewater Fund Founder Recommends Allocating 15% of Portfolio to Bitcoin and Gold

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Bitcoin Could Benefit If U.S.-China Trade Talks Extend Beyond August Deadline

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Bitcoin Shows Signs of Potential Breakout Amid Range-Bound Trading and Altcoin Pressure

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Ethereum Price Could Potentially Reach $13,000 by Q4 Amid Shifting Market Sentiment and Network Upgrades

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

XRP Price Shows Consolidation After Recent Surge Amid Mixed Signals for Altcoin Market

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Institutional Ethereum Staking Gains Traction Amid Yield Opportunities and Liquidity Risk Considerations

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Dubai Property Market May See Increased Bitcoin Use Amid Emerging Crypto Regulations and Developer Adoption

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Dogecoin’s Double Bottom Pattern Suggests Possible Surge Toward $0.418 Amid Bullish Signals

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

ZORA Crypto Sees 36% Rally Amid Derivatives Surge, but Correction of Up to 70% May Follow

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img