A Bitcoin wallet dormant since the Satoshi era awakens, transferring 687 BTC ($43.9 million) to two different wallets, intriguing the crypto community.
A Bitcoin address from the time of Satoshi, which had been sleeping for ten years, has woken up. On May 6, the Bitcoin wallet with 43.9 million bitcoins (687 BTC) moved its assets to two different wallets.
The wallet sent 625.43 BTC to an address starting with bc1qky first and then 61.9 BTC to bc1qdc. People in the cryptocurrency community are often interested in when funds are moved from very old wallets, especially ones from the Satoshi era.
The “Satoshi era” refers to the early days after Bitcoin was created, when Nakamoto, the project’s secret founder, was active on online sites. Some wallets from the Satoshi era are thought to have ties to Satoshi himself.
One of these wallets woke up in August 2023, after being asleep for almost 14 years, and sent 1,005 BTC mined in 2010. People on social media were most interested in the wallet moving, with some thinking it might have been Satoshi’s wallet.
But experts say it’s more likely to have something to do with early miners or sellers just trying to make money.
A Fortune story says that 1.75 million Bitcoin wallets have been used for less than ten years. Many of these wallets hold large amounts of Bitcoin that were likely bought when the price was double-digit and are now worth millions of dollars.
At the current price, these funds are worth about $121 billion and hold 1,798,681 Bitcoin.
In the past few years, many wallets from the Satoshi era have been triggered to move their Bitcoin holdings to a different address. It was also found that some of these wallets had moved their Bitcoin to cryptocurrency platforms. This suggests they may be looking to make money after almost a decade.
A wallet that had not been used in 11 years sent $30 million in Bitcoin in July 2023. After being inactive for six years, three BTC wallets from the Satoshi era sent $230 million in BTC to each other in November 2023.
The three wallets were last used on November 5, 2017, which makes it likely that they are linked to the same person or group.
