Satoshi Era Bitcoin Whale Emerges: $43.9M in BTC Moved After a Decade of Dormancy

• A decade-old Bitcoin wallet, dormant since 2014, has suddenly transferred all its 687.33 bitcoins, worth nearly $44 million, on May 6, 2024.
• The wallet had received the bitcoins when they were valued at $630,000, at a time when Bitcoin’s price was $917 and Satoshi Nakamoto was still active.
• The movement of such old wallets often triggers speculation within the crypto community, with some suggesting they could be linked to Bitcoin’s creator.

A dormant Bitcoin wallet from the Satoshi era has suddenly transferred all its holdings, sparking curiosity and speculation within the crypto community.

Satoshi-Era Bitcoin Wallet Springs to Life

The wallet in question had been dormant for 10.3 years before it transferred its entire holdings of 687.33 bitcoins, valued at nearly $44 million. The wallet had received these bitcoins back on January 12, 2014, when Bitcoin’s price was $917. The sudden movement of such an old wallet often triggers curiosity and speculation within the crypto community, with some suggesting that wallets from this period could be linked to Bitcoin’s creator, Satoshi Nakamoto.

Potential Sell-Off Raises Concerns

Despite theories associating these wallets with Satoshi, experts suggest they likely belong to early miners or investors looking to capitalize on Bitcoin’s recovery. Over the past week, Bitcoin has gained almost 4%, climbing to around $65,500 before another retracement took place. Hence, the transfer raises concerns about a potential sell-off, possibly indicating a move to offload a large Bitcoin reserve.