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Bitcoin wallet with US $ 24 million from the Satoshi era is suddenly activated after 10.5 years

A Bitcoin wallet that had been inactive since the time of Satoshi Nakamoto suddenly activated after almost 11 years.

The wallet, which contains 500 BTC, dates from roughly the time when Nakamoto, the pseudonymous creator of Bitcoin, was last active on the Internet.

Since its last use in 2010, the value of the cache has risen sharply from $ 8,400 to more than $ 23.67 million thanks to the rising Bitcoin price.

The crypto tracking service Whale Alert reported the transaction on December 29th. Online records show that on Wednesday 165.33 BTC, or $ 7.78 million, was transferred from the wallet to an unknown address.

While this wallet promotion might be considered lightweight in relation to whales, similar transactions in the past have raised fears of price dumping.

In the past few years, dormant wallets with huge amounts of Bitcoin have sporadically popped up, leading to speculation that Nakamoto might make a withdrawal.

Cryptocurrency lovers have a particular interest in coins that were mined before the enigmatic Bitcoin founder disappeared from the radar on December 12, 2010. The coins are now referred to as Bitcoins from the Satoshi era.

Interest stems from the belief, and perhaps also the expectation, that wallets created during this period belong to Satoshi Nakamoto or close associates.

Bitcoin founder holds over a million BTC

It is estimated that Nakamoto owns a total of 1,125,150 BTC, with an unspent value of around $ 53.44 billion at existing exchange rates.

According to data from BitInfoCharts, there are hundreds of Bitcoin wallet addresses that have been inactive for the past decade.

The most valuable dormant wallet holds approximately 80,000 BTC worth more than $ 3.7 billion at current market prices, it is said.

In total, about $ 9.8 billion worth of bitcoins are locked in the five main wallets that have not been opened for about 10 years.

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