Bitcoin Wallet from the Satoshi Era Awakened After 11 Years: Speculations Increased!

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A thing that has been dormant for 11.7 years Bitcoin The wallet took action again and managed to attract attention in the cryptocurrency market. Whale Alert found that “a dormant address containing 500 BTC worth $34,726,301 was activated after 11.7 years,” thus dispelling speculation. triggered.

cryptocurrency While the Bitcoin wallet community is still stunned by the surprise, on-chain analytics platform Lookonchain highlighted that the whale’s next move was unexpected.

According to Lookonchain, the activated wallet containing 500 BTC transferred its entire balance to multiple new wallets. The wallet purchased the 500 BTC in question for a total of $3,786 on July 14, 2012, when the BTC price was only $7.57.

According to CoinGecko data, Bitcoin is currently trading at $70,130, up 0.63% in the last 24 hours. This incident didn’t take long to trigger a flurry of speculation within the crypto community, considering the wallet dates back to the early years of BTC.

The transfer of 500 BTC from this old wallet is notable for its size and the length of time the coins remained untouched. The sudden movement of funds raises questions about the identity of the owner and why he chose to act now.

At current prices, the BTC stash is now worth over $34.7 million, an increase of approximately 916,434% from the initial value of $3,786, which justifies the staying power of its owners if this is the case.

Distributing funds to multiple new wallets may represent a strategic decision to diversify assets or prepare for future transactions. While the transferred Bitcoins make their way to new wallets, the crypto community continues to closely monitor other developments.


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