Another ancient Bitcoin wallet has come back to life after 12 years of dormancy, sell-off happening?
Whale Alert has discovered that another crypto wallet that had lain dormant for a long time has been reactivated. It was an old Ethereum wallet earlier today. A Bitcoin address previously transferred when Satoshi Nakamoto was still active in the cryptocurrency industry has now been reactivated.
💤 💤 💤 A dormant address containing 1,000 #BTC (27,456,958 USD) has just been activated after 12.0 years!https://t.co/lHrgCNWpbY
— Whale Alert (@whale_alert) April 24, 2023
An address that had been sleeping for 12 years moved 1,000 Bitcoin valued at $27,456,958 less than an hour ago. The year 2011 marked twelve years since Satoshi Nakamoto gave his creation to the early Bitcoin community, including Gavin Wood, Hal Finney, and others.
It was recently discovered that the Bitcoin whitepaper is contained in the iOS code for Macs. This spawned many rumors that Satoshi Nakamoto might be Steve Jobs, Apple’s tech pioneer and co-founder. Popular cryptocurrency YouTuber Lark Davis noted that Jobs passed away in 2011, and Nakamoto vanished in late 2010. However, many have proposed as part of this theory that Steve Wozniak, the other Apple co-founder, may have been the real Satoshi.
Many old cryptocurrency addresses that held Bitcoin and Ethereum have just been resurrected and have begun to transfer their coins. Two Bitcoin wallets awoke last week after sleeping for 10.3 and 9.3 years, respectively. They each moved 1,128 and 6,078 Bitcoin.
Several Ethereum whales that have lain dormant since the ETH ICO in 2014 have resumed trading. Even though one of them moved one ETH, the wallet still has 2,365 ETH, valued at $4,377,447. Many Twitter users have been making jokes in the comments to these posts about antiquated crypto wallets, speculating that their owners have probably only recently been able to find their keys.
BTC/USD 4-hour chart | Source: TradingView
Most elderly whales reactivating their wallets appear to be selling their cryptocurrency. However, right now does not seem to be the greatest time for that since Bitcoin, which peaked in November 2021 at $69,000, is currently trading at $27,415, or 60% below its previous high. Around the same moment, Ethereum reached its ATH of $4,891. It is trading below $2,000, down 62.21% from that previous high.
Read more:
- 6,600 Bitcoins Transferred In Massive Miner Outflow – Third Largest Since March 2022
- Historic Bitcoin Wallet With 1,128 BTC From Satoshi Era Reawakens After Dormancy