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Bitcoin wallet from Satoshi Nakamoto's era becomes active


 

With the highly volatile crypto market, Bitcoin wallets that have been idle for a long time have come back to life, which is why there are many questions about this.

Old Bitcoin wallet becomes active

A Bitcoin wallet that has not had a transaction since 2013 has become active for the first time in 8 years. According to information from the blockchain, the wallet received a total of 321 BTC at an average price of USD 47,000, bringing the total value of the wallet to a total of USD 15 million.

The Bitcoin arrived on the wallet at the time when BTC received little attention because the price was below 500 USD. The growth since the last transaction in 2013 means a jump of over 3,000% as a clear example of a Hodling strategy.

Whale Alert, a service that tracks BTC whale activity, tweeted:

"A dormant address at 321 BTC ($ 15,103,046) just activated after 8.8 years (worth $ 6,594 in 2013)!"

The exchange went inactive three years after the disappearance of Satoshi Nakamoto, but has remained under surveillance ever since. Speculations that the wallet could belong to a whale that may be about to make a sale have disappeared.

Others take the wallet's resurgence in such a way that a retailer finally remembers their seed phrase, a Silk Road user comes out of jail and even Nakamoto is spoken.

In 2021, blockchain experts will observe that Bitcoin wallets from the Satoshi era will come to life again. The pattern of sudden activity from Bitcoin wallets nearly a decade ago is worrying to some investors. They are trying to find out why.

In September, a Bitcoin wallet from 2011 transferred the total stock of 616 BTC to a new address, while an address from 2021 with 5 million BTC became active again in January. In the last two weeks, two addresses with 235 and 225 BTC became active again after 8 years.

At the time of accumulation, the Bitcoin price was $ 500 and the miners were rewarded with 50 BTC per block. Some of these owners may have lost their private keys and thus access to the BTC. It is estimated that up to 4 million BTC is unrecoverable, according to an analysis by the Wall Street Journal.

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