Not long ago, Whale Alert reported that a Bitcoin wallet containing 489 coins was activated for the first time since 2010. Worth mentioning, the action comes right in the middle of a Bitcoin price trading around $39,257.
BTC/USD 4-hour chart | Source: TradingView
Satoshi-Era Bitcoin wallet suddenly activates after 11 years
Speculation is about the antique wallet and whether its owner has enough faith to hoard this money for more than a decade. But arguably, this account holder turned $50 into $20 million by resisting the temptation to withdraw over 11 years.
Source: Whale Alert
This address dates back to the active years of Satoshi Nakamoto, the mysterious Bitcoin creator who left the community in April 2011. And knowing this, the community became even more interested in this news.
It is widely believed that someone accidentally found their long-lost private key and gained access to a huge fortune. Some speculate that the owner got out of jail and finally managed to withdraw the cryptocurrency.
The news comes as the leading cryptocurrency suddenly spiked to $42,000, but it has now risen recently. The recent price rally has turned into a bull trap. The largest cryptocurrency is now down 43.15% from its all-time high. Some users attributed the sell-off to the activation of Satoshi-era wallets, but the two events are improbable to be related.
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