Dormant Satoshi-Era Bitcoin Address Suddenly Wakes Up After 12 Years As BTC Price Hurtles Toward $70K ⋆ ZyCrypto
The post Dormant Satoshi-Era Bitcoin Address Suddenly Wakes Up After 12 Years As BTC Price Hurtles Toward $70K ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     A dormant Bitcoin address dating back to the era when the enigmatic Bitcoin creator, Satoshi Nakamoto, was still active, suddenly came back to life on Monday after 12 years. The Bitcoin wallet, which dates back to 2012, contains $1.81 million worth of BTC at current prices. The sudden activation comes after the price of the benchmark cryptocurrency managed to reclaim the $69,000 level following Republican Presidential candidate Donald Trump’s intense crypto endorsement on Saturday. Satoshi-Era Bitcoin Wallet Resurfaces The movement of funds from very old wallets, especially from the Satoshi era, often triggers curiosity among the crypto community. According to data provided by Whale Alert, someone whose identity cannot be unraveled moved 26 BTC after 12-year dormancy. Back then, in 2012, the entire cache was worth about $301. Interestingly, this wallet slept through the Bitcoin bull run in March and the all-time high of nearly $74,000. The Bitcoin address comes from the era of Bitcoin inventor Satoshi Nakamoto when the Bitcoin network was still relatively unknown. Some Satoshi-era wallets are often speculated to be linked to Satoshi himself. The pseudonymous Bitcoin creator is suspected of owning as much as 5% of BTC’s total supply due to mining in the network’s early days, but many doubt those coins will ever be moved again. Advertisement   July has seen multiple Bitcoin whales and addresses over a decade old awakening from dormancy, moving BTC to new wallets. On July 17, a Satoshi-era wallet transferred $12 million in BTC to a new address, and on July 25, another wallet dormant for 11.2 years transferred 750 BTC (worth $48 million at the time). Bitcoin Breaks Above $69,000 The price of Bitcoin surged toward the $70K mark on Monday, hitting its highest level since early June after former U.S. President Donald Trump vowed…
Filed under: News - @ July 30, 2024 1:22 pm