Satoshi’s era of dormant Bitcoin addresses will be resurrected after 10 years
A Bitcoin address that was dormant during Satoshi Nakamoto's active days has been reactivated after 10 years. A Bitcoin wallet containing 687 BTC ($43.9 million) transferred its holdings to two separate wallets on May 6.
The wallet first transferred 625.43 Bitcoin (BTC) to an address starting with bc1qky and the remaining 61.9 BTC to bc1qdc. The movement of money from old wallets, especially from the Satoshi era, often creates curiosity among the crypto community.
The term “Satoshi era” refers to the early days after the creation of Bitcoin, when Nakamoto, the founder of the name, was active online in forums. Some of Satoshi's era wallets are often thought to date back to Satoshi himself.
One of the wallets He woke up after 14 years in August 2023 and transferred 1,005 BTC of mining in 2010. The movement of the wallet has created a buzz on social media, with speculation that it is Satoshi's wallet.
However, experts suggest that instead of trying to make a profit, it is associated with early miners or buyers.
According to Fortune, a total of 1.75 million bitcoin wallets have been inactive for more than a decade. Many of these wallets have seen BTC prices trading in the double digits and currently hold significant BTC holdings estimated to be in the millions.
These dormant wallets hold 1,798,681 Bitcoin at today's value of around $121 billion.
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Over the past couple of years, several Satoshi-era wallets have been activated just to transfer BTC holdings to a new address. It was found that some of these wallets transferred their BTC holdings to crypto exchanges, suggesting that they may be looking to turn a profit after a decade.
In the year In July 2023, the wallet transferred $30 million in BTC for 11 years. In the year In November 2023, three Satoshi-era BTC wallets transferred $230 million in BTC after six years of dormancy.
The three wallets are believed to be linked to the same individual or organization as they made their last transaction on November 5, 2017.
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