2024

Satoshi

Bitcoin

when

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a move that has captured the attention of the cryptocurrency world, a <a href="https://u.today/ancient-bitcoin-wallet-with-412-btc-suddenly-reawakens-after-11-years-details" rel="noopener noreferrer nofollow">Bitcoin wallet</a> that has been dormant for 11.7 years has suddenly sprung back to life.
Crypto data tracker <a href="https://twitter.com/whale_alert/status/1773824119831683335" rel="noopener noreferrer nofollow">Whale Alert</a> reports that "a dormant address containing 500 BTC worth $34,726,301 has just been activated after 11.7 years."
<blockquote>
 💤 💤 💤 💤 A dormant address containing 500 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (34,726,301 USD) has just been activated after 11.7 years!<a href="https://t.co/blkRUf7J7C" rel="noopener noreferrer nofollow">https://t.co/blkRUf7J7C</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1773824119831683335?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 29, 2024</a>
</blockquote>
While the crypto community was still taken aback given the sudden activation of the Bitcoin wallet, on-chain analytics firm Lookonchain highlighted the whale's next move, which turned out to be unexpected.
According to <a href="https://twitter.com/lookonchain/status/1773898107560001805" rel="noopener noreferrer nofollow">Lookonchain</a>, the activated wallet containing 500 BTC transferred its entire balance to multiple new wallets. The wallet had received the said 500 BTC at a total sum of $3,786 at the time on July 14, 2012, when the price of BTC was only $7.57.
<blockquote>
 A wallet that had been dormant for 11.7 years transferred all 500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($34.78M) to multiple new wallets.This wallet received 500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($3,786 at the time) on Jul 14, 2012, when the price of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> was only $7.57.Address: 1LUDXsAT6fQypinRbqVKatMiAbv6o9HjBc <a href="https://t.co/zP3A3GlQHT" rel="noopener noreferrer nofollow">pic.twitter.com/zP3A3GlQHT</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1773898107560001805?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 30, 2024</a>
</blockquote>
Bitcoin currently trades at $70,130, up 0.63% in the last 24 hours, per <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a> data.
This event has sparked a flurry of speculation and intrigue within the crypto community, given that the wallet dates back to the early years of Bitcoin.
The transfer of 500 BTC from this ancient wallet is notable for its size and the length of time the coins remained untouched. The sudden movement of funds raises questions about the owner's identity and why they chose to act now.
At current prices, the <a href="https://u.today/surprisingly-bullish-ethereum-whale-makes-unexpected-move-on-btc-stash" rel="noopener noreferrer nofollow">BTC stash</a> is now worth a fortune, over $34.7 million, about a 916,434% increase from the initial worth of $3,786, justifying the holders' staying power if this were the case.
The distribution of funds to multiple new wallets could suggest a strategic decision to diversify holdings or prepare for future transactions. As the transferred Bitcoins make their way to new wallets, the crypto community continues to watch closely for any further developments.

Satoshi Era Bitcoin Wallet Awakens, Makes Unexpected Move

U_Today

Other articles published on Mar 30, 2024

Bitcoin Breaks Past $70,000 as Market Sentiment Shifts

Bitcoin Sharks Show Biggest Monthly Buying Spree Since 2012

Koala Coin (KLC) Steals the Spotlight from Dogecoin (DOGE) and TRON (TRX) Setting the Stage for I...

Next Cryptocurrency To Explode Saturday, March 30 – Jito, Myro, CyberConnect

Dogecoin (DOGE) Parabolic 28% Rally Hits Bricks, What Comes Next

Panel Of Experts Reveal When The Cardano Price Will Reach $3

Join our free newsletter for daily crypto updates!