Vintage Bitcoin Moves: What’s the Story?
A Bitcoin wallet containing 1,005 BTC mined in 2010 has reawakened, with an anonymous user moving the long dormant coins to new addresses in a number of different transactions.
Expert Opinion: Is it Satoshi Nakamoto?
Blockchain researcher, developer, and cryptocurrency trader Kirill Kretov was among the first to spotlight this intriguing move. Mined just a year after Bitcoin’s inception, such movements naturally lead to speculations about Bitcoin’s enigmatic creator, Satoshi Nakamoto.
Kretov expressed his doubt over the possibility, hinting towards a long-term holder or an entity previously associated with awakening dormant Bitcoin. Kretov elaborated,
“I may expect the price to be higher than the current market because these are 100% clean Bitcoins. Not to mention how old they are which makes them especially attractive to crypto-numismatics.”
Patterns in Dormant BTC Movements
Kretov has noted similarities between this movement and previous ones. He believes the current awakening might be orchestrated by an entity that triggered 13 similar events between 2020 and 2021, cumulatively moving around 13,000 BTC.
He further detailed how only three other movements of 1,000 BTC or more have been flagged by his research archives. This makes the current movement notably significant.
Dormant BTC: A Look at Past Movements
Shedding light on previous BTC awakenings:
- December 2021: 1,000 BTC from two 2011 wallets were moved.
- April 2023: 1,000 BTC mined in 2011 transferred.
- July 2023: A whopping 1,037 BTC from a 2012 wallet was shifted.
Kretov highlighted,
“Those BTC from 2011 and 2012 and the sources of funds are different – not freshly mined coins. So the present awakening is much closer to those 13 instances.”
From $5100 to $31 Million: A Testament to Bitcoin’s Growth
Another instance of a dormant BTC wallet coming to life is the movement of over 1,037 coins initially acquired in April 2012 at a mere value of $5100. By 2023, the total value surged to a staggering $31 million.
Such instances not only fuel speculation and intrigue but also showcase the meteoric rise of Bitcoin, underlining its position as a potent store of value.
