In an intriguing development, 1,005 BTC mined in 2010, valued at $29 million today, have been transferred from an old Bitcoin wallet that lay dormant for 13 years. This event has drawn attention due to its resemblance to recent dormant Bitcoin movements.
Awakening of Long Dormant BTC Wallet
An anonymous user has reawakened a Bitcoin wallet containing 1,005 BTC mined back in 2010. These coins have been moved to new addresses through multiple transactions, raising questions within the cryptocurrency community about the potential identity of the mover.
Historical Significance and Value Surge
Blockchain researcher and cryptocurrency expert Kirill Kretov noted the historical significance of this event, as the BTC was mined just a year after Bitcoin’s inception. The wallet, which initially received 1,005 BTC valued at $328 in 2010, has now seen its value soar to over $29 million.
Unlikely Link to Satoshi Nakamoto
Kretov dismissed the idea that Bitcoin’s enigmatic creator, Satoshi Nakamoto, was involved in this move, suggesting that a long-term holder or an entity linked to prior dormant Bitcoin awakenings might be behind the transactions. The researcher further speculated that the holder could be engaging in over-the-counter transactions to capitalize on the attractiveness of these “clean” and aged Bitcoins.
— Whale Alert (@whale_alert) August 14, 2023
Possible Continuation of Past Movements
Kretov proposed a connection between this recent event and a previous series of Bitcoin movements involving wallets from 2020 and 2021. These instances encompassed 13 awakenings, each involving 1,000 BTC. He emphasized that such large-scale movements are relatively rare, highlighting only three other similar cases flagged in his research archives.
Similar Instances in the Cryptosphere
This resurgence isn’t unique. A dormant BTC wallet containing over 1,037 coins from 2012 has also seen movement, with its value soaring from an estimated $5,100 in 2012 to around $31 million at the time of transfer in 2023.
As these dormant BTC movements continue to intrigue the cryptocurrency community, experts speculate on the motives behind such actions and their potential implications for the market.