Satoshi’s Bitcoin Is Awake: 1,005 BTC From 2010 Have Been Moved

Satoshi’s Bitcoin Is Awake: 1,005 BTC From 2010 Have Been Moved

After 13 years of inactivity, 1,005 BTC worth $29‍ million ⁢has ‍been transferred from a legacy Bitcoin wallet,⁤ reminiscent of the⁤ recent dormant BTC movement.

An anonymous ⁢user moved the​ coins from a Bitcoin (BTC), a 1,005 BTC wallet mined in 2010, to different addresses. ⁤Kirill Kretov, a blockchain developer, ⁤researcher, and cryptocurrency trader, spoke about the ⁣incident after noticing BTC’s movement for the⁣ first time.‍ BTC was mined​ just a year‍ after Bitcoin was created. AskFX independently confirmed the wallet details using Blockchair blockchain data.‌ The wallet statement⁤ states that the 1,005 BTC received in 2010 was worth just $328. At the time ⁤of ‌publication, the coins were ​valued at‍ over $29 million.

The entire cryptocurrency community has taken‍ note of this BTC⁢ awakening. Some wondered if Satoshi Nakamoto’s ⁣pseudonymous creation, Bitcoin, ⁣actually moved coins.

Kretov‍ told ‍that Bitcoin’s⁣ founder is unlikely to be ​silently moving new⁢ BTC. He suggested‍ that a long-time holder or a company associated with previous dormant Bitcoin revivals could be behind the transaction. The researcher said⁤ that the ‍holder may be selling ⁣bitcoin over the counter:

I expect ‍the ‌price to⁢ be ​above the ⁢current market as they are ⁣all 100% clean bitcoins. They are ‍also very old, which makes them particularly attractive ‌to cryptonumismatists.

Kretov posits that the wallet may ⁤be controlled by a‍ user‍ who ​has already transferred bitcoin⁣ between wallets 13 times in the period 2020-2021. The researcher said there were 13 ​revivals of 1,000 BTC each (from⁣ 20 wallets with 50 BTC⁣ mined), for a total of 13,000 BTC.

Kretov‌ noted​ that ⁤his‍ research archive, which monitors a large number of new bitcoin wallets ‍in the early years of bitcoin’s existence, has only identified three other 1,000 BTC awakenings.

One such case was when 1,000 BTC was‍ moved from two wallets mined in 2011. ‍In April 2023, 1,000 BTC were transferred from wallets mined in 2011, before in July ⁣2023 1,037 ⁣BTC were⁤ transferred from a‌ wallet mined in 2012

“These BTC are not newly mined, but are from 2011 and 2012.” ⁣The present awakening is ​closer to these ​13 instances.”

Another dormant BTC account with more than‍ 1,037 ​coins has⁤ moved its funds to another address. BTC ⁢was purchased in April 2012 for an⁤ estimated $5,100. Its ⁤total value in 2023⁣ when ⁤it was‍ transferred was⁤ about $31 million.

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