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A dormant Bitcoin address dating back to the early days of cryptocurrency recently sprang to life after 10 years. According to Whale Alert, a well-known tool for tracking crypto wallets, the address transferred 687 BTC, worth approximately $43.9 million, on May 6. The transactions were split between two wallets: one received 625.43 BTC, and the other 61.9 BTC. These events often intrigue the crypto community, as funds from the early days of Bitcoin’s creation are sometimes linked to its pseudonymous founder, Satoshi Nakamoto.
Satoshi-era wallets, often linked to Nakamoto’s active days in online forums, tend to attract significant attention. Last August, another such wallet moved 1005 BTC mined in 2010 after nearly 14 years of inactivity. While many speculate these wallets are tied to Satoshi, experts believe they belong to early miners or buyers cashing in on Bitcoin’s immense appreciation.
A Fortune report highlighted that over 1.75 million Bitcoin wallets have been inactive for a decade, holding significant BTC bought when the cryptocurrency was priced in double digits. Recently, several of these Satoshi-era wallets have awakened, typically transferring their holdings to new addresses or exchanges, indicating that their owners may be capitalizing on the massive profits after a decade of dormancy.
