[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"b3204f9f-f221-4cb5-ade1-3037fe5879c3","updated_at":"2024-05-08T08:30:14.11682+00:00","account":{"firstName":"Marigold","lastName":"Vance"},"description":"In the fiercely competitive cryptocurrency market, a dormant Bitcoin whale that had been asleep over a decade suddenly came back into existence, marking a momentous breakthrough in the crypto space. ","sapo":"The movement of funds from such decades-old the Satoshi era often triggers a curiosity within the crypto community about its origins. Some believe wallets from this period could be linked to the Bitcoin creator.","title":" “Satoshi era” Bitcoin Whale awaken after 10 years, transferred $43 million","content":"

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On May 6, according to Whale Alert findings, a wallet that had been dormant for 10.3 years had suddenly sprung up to life, transferring 687 Bitcoins worth almost $44 million.

A wallet received a hefty sum of 687.33 bitcoins in January 2014, back when a bitcoin cost $917 and the mysterious creator of Bitcoin, Satoshi Nakamoto, was still around. This transaction amounted to roughly $630,000 at the time.

***1787330674359144931***

The wallet divided its holdings, sending 625.43 BTC to an address beginning with bc1qky and the remaining 61.9 BTC to bc1qdc, as identified by the on-chain tracking platform.

Over the past week, BTC has gained almost 4%, climbing to around $62,6 before another retracement took place. Hence, the transfer raises concerns about a potential sell-off, possibly indicating a move to offload a large bitcoin reserve.

Bitcoin's price

Bitcoin's price. Source: BitScreener

All in all, despite theories associating these wallets with Satoshi, experts suggest they likely belong to early miners or investors looking to capitalize on bitcoin’s recovery. Many Satoshi-era wallets have been activated in the last few years, but all they’ve done is move their Bitcoin holdings to another address. Further evidence that some of these wallets maybe trying to profit after over ten years comes from the discovery that some of them had moved their Bitcoin holdings to cryptocurrency exchange

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“Satoshi era” Bitcoin Whale awaken after 10 years, transferred $43 million

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