Whale Alert brought to light that a dormant address containing 1,005 BTC was activated recently after a period of almost 12.8 years. The coins were worth around $29.75 million when they were moved. The address paid 0.00004013 BTC [$1.18] as a fee to execute the transaction.
The address was created in 2010, and these coins were mined a year after Bitcoin’s birth. The coins were valued at $328 in 2010. Commenting on the movement of the 1005 ‘virgin’ Bitcoins, Blockchain Researcher Kirill Kretov posted on LinkedIn,
“That is quite a remarkable awakening that we see lately, not only by the date of creation but also by the amount that has been transferred.”
Such transfers are usually not welcomed by the people because they perceive that an influential holder has lost confidence and intends to liquidate holdings. Diamond hands selling the asset have triggered market sell-offs in the past. Keeping the optimistic door open, and laying out another scenario, Kretov said,
“On the flip side, there’s the possibility that a wealthier entity aims to increase their stake in the leading crypto. They might have convinced long-standing holders to offload their pristine, untouched coins to them at a premium, bolstering their position in the market.”
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Is Satoshi Involved?
According to on-chain data, the wallet had only $18 worth of BTC left at press time.
However, the 1005 BCH tokens held by the address remained intact. Confirming the same, Kretov said,
“Interesting to note that the corresponding Bitcoin Cash has not been moved and is still on the same address.”
People in the community have started speculating that Bitcoin’s pseudonymous creator, Satoshi Nakamoto, could be moving the coins. However, there seems to be concrete evidence to prove this claim.