A Bitcoin address dormant for more than 15 years has moved 8.54 BTC, worth roughly $538,000 at current prices — a realized gain of about 461,981% on its original cost, according to Galaxy Research. The wallet is unlikely to be linked to Satoshi Nakamoto, though it was created just months after Bitcoin's pseudonymous creator vanished from public view.
A Bitcoin address that had remained untouched for more than 15 years has suddenly become active. It moved 8.54 BTC, worth roughly $538,000 at current prices, in block 962770, according to Galaxy Research.
The coins were first received on June 13, 2011, and the address had stayed inactive ever since. Galaxy Research put the realized gain at about $538,000, an estimated increase of 461,981% from the address's acquisition cost. It set the original basis at approximately $14 per BTC.
Unlikely to be Satoshi Nakamoto's coins
It is highly unlikely that the coins are related to Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Even so, the address was created just months after whoever was behind Bitcoin's creation left their last post on social media.
Other dormant wallets have stirred
Other old whale wallets have moved in recent weeks. Whale Alert reported on Aug. 12 that a dormant pre-mine Ethereum address containing 2,680 ETH was activated after 11 years, worth approximately $5.05 million at the time. Three days earlier, another Ethereum pre-mine address containing 2,000 ETH was activated after roughly 11 years, valued at about $3.84 million.
On Aug. 3, Whale Alert flagged a Bitcoin address holding 500 BTC that had been dormant for around 12.7 years, worth approximately $31.3 million at the time of activation. A further dormant Ethereum pre-mine address containing 2,000 ETH was activated on July 26 after approximately 11 years, worth about $3.83 million.
Such transactions do not necessarily indicate an impending sale. Dormant coins can move for a variety of reasons, including wallet reorganizations and security upgrades.
Source: U.Today
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