06 May

Recently, a dormant Bitcoin address, inactive for a decade and dating back to the time when Satoshi Nakamoto was actively involved, has become active again. This Bitcoin wallet, containing 687 BTC valued at $43.9 million, transferred its holdings to two different wallets on May 6.

The wallet initially transferred 625.43 Bitcoin to an address starting with bc1qky, and the remaining 61.9 BTC to bc1qdc. The movement of funds from such old wallets, particularly from the period associated with Satoshi Nakamoto, typically piques the interest of the crypto community.

The term "Satoshi era" refers to the early days following Bitcoin's creation, when its pseudonymous creator, Nakamoto, was engaged online in various forums. Some wallets from this era are often speculated to be linked to Nakamoto himself.

In August 2023, a similar wallet that had been dormant for almost 14 years woke up and transferred 1,005 BTC mined in 2010, generating significant attention on social media with speculation about its connection to Satoshi's wallet. However, experts suggest that these movements are more likely associated with early miners or investors seeking to capitalize on profits.

According to a report by Fortune, there are approximately 1.75 million Bitcoin wallets that have remained inactive for over a decade, many of which hold substantial BTC holdings acquired when the cryptocurrency was trading at much lower prices and are now worth millions.

In recent years, several wallets from the Satoshi era have been activated, only to transfer their BTC holdings to new addresses. Some of these wallets have also moved their BTC holdings to cryptocurrency exchanges, indicating a potential intention to liquidate their assets after being dormant for nearly a decade.

For instance, in July 2023, a wallet dormant for 11 years transferred $30 million in BTC, while in November 2023, three wallets associated with the Satoshi era transferred $230 million in BTC after six years of dormancy. These wallets are believed to be linked to the same individual or entity, as they executed their last transactions on Nov. 5, 2017.

May 2024, Cryptoniteuae

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