Satoshi-Era Bitcoin Wallets Activate, Transfer $230M in BTC After 6-Year Dormancy

    In 2023, three Satoshi-era Bitcoin wallets have awakened from a 6-year slumber to transfer a total of $230 million worth of BTC. Learn about their historic dormancy and potential origins.

    In a surprising turn of events, 2023 has witnessed the reawakening of three long-dormant Satoshi-era Bitcoin wallets. These wallets, which had remained untouched for nearly six years, made substantial transfers to new addresses. The first wallet moved 2,550 BTC, valued at an impressive $90 million. Similarly, the second wallet transferred around 2,000 BTC worth $71 million, while the third address conveyed approximately 1,950 BTC, valued at $69 million.

    What sets these wallets apart is their historical inactivity. The last known transactions from each of them took place on November 5, 2017, meaning they missed the spectacular Bitcoin bull run and the record-breaking all-time high of over $69,000. Interestingly, most of the Bitcoin within these wallets can be traced back to July 2011, and there’s a connection to F2Pool, a prominent Bitcoin mining pool. This suggests that these wallets might have accumulated their BTC through early Bitcoin mining efforts when the cryptocurrency traded for under $15.

    While it’s yet unconfirmed if these wallets belong to the same entity, the transaction patterns and wallet history hint at such a possibility. This resurgence of dormant Bitcoin addresses from the 2011 era coincides with the BTC price recently surpassing a new yearly high above $35,000.

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