Satoshi

2024

Satoshi Nakamoto

Bitcoin

Silk Road

<p class="is-style-lead">Long-dormant Bitcoin wallets, inactive for nearly 11 years, suddenly transferred a whopping 1,000 Bitcoins (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) within a 20-minute window, on-chain analysts reported Sunday.</p>
<p>Lookonchain, an analytical tool that offers insights into blockchain activity, noticed that two wallets — “16vRqA” and “1DUJuH” — initially received 500 BTC each in September 2013.</p>
<p>At the time, Bitcoin traded at a modest $124 per coin. Fast-forward to today and these once-insignificant transactions have ballooned into a massive windfall.</p>
<p>The coins, valued at approximately $60.9 million at the current BTC price, translate to a staggering profit margin of 49,274.2%.</p>
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   <p lang="en" dir="ltr">2 wallets that have been dormant for 10.7 years transferred all 1,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>($60.9M) out in the past 20 mins.<br><br>Wallet"16vRqA" received 500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>($62K at that time) on Sept 13, 2013, when the price was $124.<br><br>Wallet"1DUJuH" received 500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>($62K at that time) on Sept 12, 2013, when… <a href="https://t.co/l5ivjrcRt5" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/l5ivjrcRt5</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1789599944749596795?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 12, 2024</a>
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<p>The sudden resurgence of activity from these dormant wallets has got tongues wagging throughout the crypto community, sparking intense speculation about the motives behind these unexpected transactions.&nbsp;</p>
<p>You might also like: <a href="https://crypto.news/nft-sales-dip-by-11-16-bitcoin-takes-hit-dominates/" rel="noopener noreferrer nofollow"> NFT sales dip by 11.16%, Bitcoin takes hit despite dominating market share </a></p>
<p>Given the prolonged period of inactivity, questions abound regarding the identities and intentions of the wallet holders, with some crypto community members wondering if the funds were part of the <a href="https://crypto.news/us-government-silk-road-bitcoin-coinbase/" target="_blank" rel="noopener noreferrer nofollow">Silk Road</a> stash held by the U.S. government.</p>
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   <p lang="en" dir="ltr">I wonder if this is the silk road money which was seized by US.</p>— Ryzoblue (rtrd/acc) (@RyzoBlue) <a href="https://twitter.com/RyzoBlue/status/1789606369483485264?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 12, 2024</a>
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<p>Others jokingly speculated whether it was mysterious Bitcoin inventor <a href="https://crypto.news/who-is-or-was-satoshi-nakamoto/" target="_blank" rel="noopener noreferrer nofollow">Satoshi Nakamoto</a> returning to cash their holdings, which are said to be in the millions of coins.</p>
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   <p lang="en" dir="ltr">Satoshi nakamoto coming back to life to sell out his holdings 😅😛</p>— Crypto Craze (@Cryptocraze777) <a href="https://twitter.com/Cryptocraze777/status/1789600645961433176?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 12, 2024</a>
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<p>The market closely monitors movements from old wallets, as they often involve large sums of Bitcoin that can impact market dynamics if sold on the open market.</p>
<p>Furthermore, crypto market watchers have historically viewed the emergence of long-dormant Bitcoin holders as a bearish signal, potentially heralding a sell-off to capitalize on profits.&nbsp;</p>
<p>However, despite the significant profit margins, the owners of the two wallets have opted not to cash out through exchanges, instead choosing to transfer their assets to undisclosed wallets, adding another layer of intrigue to their motives.</p>
<p>Many Satoshi-era Bitcoin adopters have seemingly held onto their coins through various market cycles, with more than <a href="https://fortune.com/crypto/2024/04/24/bitcoin-wallets-waking-up-lost-coins-satoshi/" target="_blank" rel="noopener noreferrer nofollow">1.8 million</a> Bitcoins often tagged as “lost” since the wallets they are held in have shown no activity in the intervening years.&nbsp;</p>
<p>However, the resurgence of these long-dormant addresses underscores the enduring value and long-term holding strategies within the Bitcoin community.&nbsp;</p>
<p>Read more: <a href="https://crypto.news/blockchain-firm-match-systems-saves-68m-dust-attack/" rel="noopener noreferrer nofollow"> Blockchain firm Match Sytems saves $68m from ‘dust attack’ </a></p>

11 years dormant, 20 minutes to transfer $60m: Mysterious Bitcoin wallet activation piques curiosity

crypto.news

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