Skip to content Skip to sidebar Skip to footer

Dormant Bitcoin Address from Satoshi Era Comes to Life After a Decade

A Bitcoin address that lay dormant since the era when Satoshi Nakamoto, the mysterious creator of Bitcoin, has recently shown signs of activity after a hiatus of 10 years. The wallet, which held 687 BTC valued at approximately $43.9 million, initiated a transfer of its assets to two separate wallets on May 6.

The transaction saw 625.43 Bitcoin being sent to an address beginning with bc1qky, while the remaining 61.9 BTC found its way to bc1qdc. The resurgence of activity in wallets dating back to the early days of Bitcoin, particularly those associated with the enigmatic Satoshi era, often piques the interest of the cryptocurrency community.

The term “Satoshi era” denotes the period following the inception of Bitcoin when its pseudonymous creator, Nakamoto, was actively participating in online forums. Speculation frequently arises regarding whether wallets from this era might be linked to Satoshi himself.

In August 2023, a similar event occurred when a dormant wallet, inactive for nearly 14 years, suddenly moved 1,005 BTC mined in 2010. This particular transaction triggered widespread speculation, with many suggesting it could be Satoshi’s own wallet. However, experts are inclined to believe that such movements are more likely the work of early miners or investors seeking to capitalize on their holdings.

There are approximately 1.75 million Bitcoin wallets that have remained inactive for over a decade. Many of these wallets hold substantial amounts of BTC, acquired at a time when the cryptocurrency was trading at significantly lower prices, now valued in the millions.

These dormant wallets collectively hold 1,798,681 Bitcoin, amounting to an estimated $121 billion at current market prices. In recent years, there has been a trend of Satoshi-era wallets being reactivated, often followed by the transfer of their assets to new addresses or exchanges, suggesting a desire to cash out after years of dormancy.

In July 2023, a wallet dormant for 11 years suddenly moved $30 million worth of BTC, while in November 2023, three wallets linked to the Satoshi era transferred a combined $230 million after remaining dormant for six years. Notably, these three wallets concluded their last transactions on November 5, 2017, leading to speculation that they may be connected to a single individual or entity.

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020-2023}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in blockchain, crypto, Web3, fintech and technology.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us