Fun

Satoshi-era dormant Bitcoin address wakes up after 10 years

News Feed - 2024-05-06 05:05:59

Prashant Jha24 minutes agoSatoshi-era dormant Bitcoin address wakes up after 10 yearsAccording to a Chainalysis report, there are a total of 1.75 million dormant BTC addresses inactive for over a decade.601 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksA dormant Bitcoin address dating back to the Satoshi era has woken up after 10 years. The Bitcoin (BTC) wallet containing 687 BTC ($43.9 million) transferred its holdings to two different wallets on May 6.


The wallet first transferred 625.43 BTC to an address starting with bc1qky and the remaining 61.9 BTC to bc1qdc. The movement of funds from very old wallets, especially from the Satoshi era, often sparks curiosity among the crypto community.


The term Satoshi era relates to the early days after Bitcoin was created when its pseudonymous founder, Satoshi Nakamoto, was active online in forums. Some Satoshi-era wallets are often speculated to be linked to Satoshi himself.


One such wallet woke from dormancy last year in August, nearly after 14 years, and transferred 1005 BTC mined in 2010. The wallet movement created the most buzz on social media, speculating that it was Satoshi’s wallet.


However, experts suggest it is more likely associated with early miners or buyers just trying to make a profit.


According to a Fortune report, a total of 1.75 million Bitcoin wallets have remained inactive for over a decade. Many of these wallets contain significant BTC holdings estimated to be bought when the BTC price was trading in double digits and is currently valued in millions.


These dormant wallets contain 1,798,681 Bitcoin that are today worth around $121 billion.Source: Chainalysis


Related:100%+ BTC price gains? Bitcoin faces ‘massively overvalued’ stocks


Over the past couple of years, numerous Satoshi-era wallets have been activated only to transfer the BTC holdings to a new address. Some of these wallets were also foundto have transferred their BTC holdings to crypto exchanges, which suggests they might be looking to take profits after nearly a decade.Source: Chainalysis


In July 2023, a wallet dormant for 11 years transferred $30 million in BTC; later, in November, three Satoshi-era BTC wallets transferred $230 million in BTC after six years of dormancy.


The three wallets were believed to be connected to the same individual or organization, as they made their last transaction on Nov. 5, 2017.


Magazine:The value of a legacy: Hunting down Satoshi’s Bitcoin# Bitcoin# Blockchain# Cryptocurrencies# Satoshi Nakamoto# Bitcoin Price# AdoptionAdd reaction

News Feed

Tom Mitchelhill17 hours agoElon’s ‘not afraid of blowing things up’ — ex-Twitter exec on working under MuskEsther Crawford claimed Elon Musk’s inability to handle criticism created a “zealous and fanatical
Helen Partz12 minutes agoCrypto payment firm Alchemy Pay wins money transmitter license in USAlchemy Pay has joined the ranks of crypto firms like Coinbase and Jack Dorsey’s Block in securing the Money Transmitter Lice
William Suberg9 hours agoBitcoin fails to recoup post-Fed losses as $20K BTC price returns to radarBitcoin is a bargain for some at current levels, but downside BTC price predictions remain firmly on the agenda.3680 Tota
Shopping.io Enables Crypto-Payments on Popular E-Commerce Websites
Shopping.io Enables Crypto-Payments on Popular E-Commerce Websites PRESS RELEASE. The adoption of crypto is not possible without accelerating its usage as a curr
Brayden Lindrea2 hours agoAtomic Wallet asks to toss suit over $100M hack, saying it has ‘no US ties’The Estonia-based firm noted that only one plaintiff in the class action lawsuit is actually based in Colorado, whe
Chinese Court Declares Ethereum Legal Property With Economic Value
Chinese Court Declares Ethereum Legal Property With Economic ValueA district court in China has reportedly ruled that Ethereum’s cryptocurrency is legal property with economic
Turner Wright2 hours agoNo impact from Ripple ruling? SEC chair cites risks from crypto in budget requestGary Gensler cited the “Wild West of the crypto markets” that was “rife with noncompliance” in requesting m
Bitcoin short sellers are out $161M as Bitcoin surprises with 11% rally
Tom Mitchelhill3 hours agoBitcoin short sellers are out $161M as Bitcoin surprises with 11% rallyBitcoin’s massive surge upward saw more than $268 million in shorts liquidated throughout the wider crypto market.2302 To
Defi Index CVX Measures Crypto ‘Market Fear’ and Implied Volatility
Defi Index CVX Measures Crypto "Market Fear" and Implied Volatility The decentralized finance (defi) platform cvx.finance has launched the beta version of its &l
Helen Partz12 hours agoWallet crypto bot rolls out on Telegram in Colombia, SA and KenyaThe third-party crypto bot Wallet is debuting its global rollout on Telegram Messenger in several countries in Latin America and Afr
Binance CEO Warns ‘We Could Disable Wazirx Wallets’ — Advises Investors to Transfer Funds to Binance
Binance CEO Warns "We Could Disable Wazirx Wallets" — Advises Investors to Transfer Funds to Binance Binance CEO Changpeng Zhao (CZ) has warned that his company could “dis
Gareth Jenkinson1 minute agoHut8 relocates 6,400 rigs, sees growth in AI & high performance computingBitcoin mining firm Hut8 continues to relocate miners from idle North Bay site as demand for AI and high power comp