LUCKNOW (CoinChapter.com) — A Satoshi-era Bitcoin wallet containing 1,005 BTC has returned after staying inactive for almost thirteen years. Subsequently, the wallet’s owner moved its Bitcoin holdings to new addresses through several transactions, igniting vigorous discussions within the crypto community.

Resurgence of Long-Forgotten Coins

The Bitcoin tokens inside the wallet cost around $29 million at the current BTC/USD exchange rates, up 8,841,363% versus the last time they moved.

The broader cryptocurrency community has not disregarded this occurrence. Speculations arose regarding whether the enigmatic creator of Bitcoin, Satoshi Nakamoto, was responsible for the movement of these coins. 

However, blockchain researcher, developer, and cryptocurrency trader Kirill Kretov dismissed this notion, suggesting that the coins were more likely under the control of a long-term holder or entity connected to prior dormant Bitcoin awakenings.

Patterns of Dormant Bitcoin Movements

Kretov’s extensive research delves into similar awakenings of dormant Satoshi-era Bitcoin wallets.

He pointed out that the user behind the current transaction might be the same entity responsible for transferring 13 instances of 1,000 BTC each between 2020 and 2021. These instances collectively accounted for a substantial 13,000 BTC, emphasizing a long-forgotten Satoshi Era Bitcoin awakening pattern.

In April 2023, another dormant Bitcoin wallet containing over 1,037 coins initiated a transfer, capturing attention in the crypto sphere. Originally obtained in April 2012 at an approximate value of $5,100, these coins surged to around $31 million when transferred in 2023.

The post Satoshi-Era Bitcoin (BTC) Wallet Suddenly Awakens After 13 Years appeared first on CoinChapter.

---

Filed under: Bitcoin - @ August 16, 2023 10:00 pm