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As if all the excitement around bitcoin hitting $90,000 for the first-time ever wasn't enough, crypto circles are buzzing with the news of wallets from its early era suddenly becoming active. The latest, according to a post on X from blockchain analytics platform Spot On Chain, happened on 15 November, when a "Satoshi-era Bitcoin wallet holding 2,000 BTC ($178 million) woke up after 14 years of dormancy." For those who came in late, Satoshi Nakamoto is the name used by the unknown person who developed bitcoin and published a whitepaper on it, way back in 2008.
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07% ) Buy Bitcoin 7,586,304 ( -1.79% ) Buy Ethereum 258,324 ( -1.89% ) Buy BNB 51,493 ( -1.
97% ) Buy Solana 18,205 ( -2.01% ) Buy Transactions involving such Satoshi-era wallets attract attention since those are likely among the biggest returns on investment ever on crypto. Did you Know? The world of cryptocurrencies is very dynamic.
Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » The latest wallet in the news now has bitcoins that were mined in 2011, a year when the value of a bitcoin hovered between thirty odd cents to around four dollars.
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87 BTC (92.93 million) was deposited into cryptocurrency exchange Coinbase, 591.46 BTC ($52 million) was into BitFlyer; with 369.
66 BTC ($33.04 million) going to Bitstamp. According to Crypto News, such transactions have happened a few times this year, with one each in May, August and September.
Transactions from wallets of such vintage are relatively rare and usually happen when there is a bull market in bitcoins, something that has been the case pretty much through this year. But often times such trades could happen for another reason, and not because the miner in question decided to hold on to the investment for the long term or is a hodler - as the crypto folks call long-term investors. Of times, such wallets are dormant because the miners themselves may have forgotten the password to the wallet, without which there is no way to access the bitcoins in it.
There is intense speculation on social media whether the latest belongs to a shrewd hodler who waited through the best part of 14 years, or a lucky investor who suddenly remembered their password. (You can now subscribe to our ETMarkets WhatsApp channel ).
