A $23.7 million Bitcoin stash has been moved for the first time in over a decade

According to Whale Alert, a Bitcoin holder just moved his coins from their wallet for the first time since 2011, the year Satoshi Nakamoto sent his last known email and disappeared from the web.

Satoshi-Era Bitcoin wallet activated after 10.5 years

An initial investment of $8,425 turned into $23.7 million, with Bitcoin recording huge gains over the past decade. BTC is currently trading at $46.741 after peaking at $69,000 in November.


Source: Whale Alert

It’s not likely that someone has waited over ten years to pull out their Bitcoins. A more likely explanation for the transaction is that someone accidentally discovered or ended up unlocking a dusty crypto wallet.

Last May, $500,000 worth of Bitcoin was transferred from a Bitcoin wallet opened in February 2009, just two months after the genesis block was mined. This immediately led to speculation that Satoshi started withdrawing his funds, but blockchain analysts later disproved this theory.

Also, in November, a sleeping whale activated a wallet containing $150 million. According to a recent study conducted by the National Bureau of Economic Research, only the top 0.01% of Bitcoin addresses control nearly one-third of the total supply.

While one should also consider the balances of cryptocurrency exchanges, Bitcoin ownership remains extremely centralized because of early adopters.

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