Bitcoin
10-Year Bitcoin Portfolio Suddenly Transfers $43.89 Million – What’s Behind This Move?
The crypto world is synonymous with “unpredictable”. Now, a long-inactive player has made a dramatic return, catching the attention of Bitcoin enthusiasts everywhere.
After more than a decade of silence, a wallet believed to be linked to the mysterious creator of Bitcoin, Satoshi Nakamoto, has come back to life, triggering a storm of curiosity and speculation.
To wake up
Whale Alert, a platform that monitors blockchain activity, has sounded the alarm. A dormant Bitcoin giant recently made significant moves, transferring a whopping 687.33 BTC to two undisclosed wallets. The total value of these transactions? An incredible $43.89 million.
One transaction involved the transfer of 625.42 BTC, valued at US$41 million, while the other moved 61.9 BTC, equivalent to approximately US$2.89 million at the time.
This sleeping giant had been dormant for exactly 10.3 years before this sudden awakening. In 2014, when Bitcoin was still recovering, it was worth $917 per coin. From an initial investment of just $630,000, the portfolio value skyrocketed to an astonishing $43.89 million – a mind-blowing profit increase of 6,875%.
Sale coming up?
However, with great wealth comes great speculation. There are many rumors about a potential liquidation. Is this resurgence a strategic move by the wallet owner to profit from their Bitcoin amid the recent price surge?
Reactivating this wallet brings back memories of Satoshi Nakamoto mysterious presence. The figure, supposedly the mastermind of Bitcoin, briefly resurfaced in 2014 to dispel rumors linking him to a Japanese-American named Dorian S. Nakamoto.
Despite the buzz, experts remain cautious. The data suggests that there is no direct link between the activity of this wallet and recent Bitcoin price movements.
Bitcoin Price Analysis
Meanwhile, Bitcoin reached new heights, surpassing the $65,000 mark. The cryptocurrency is currently trading comfortably above its 50- and 100-day exponential moving averages (EMAs) at 63,927 and 60,191, indicating short- and long-term bullish trends.
The value of Bitcoin it now stands at $65,296.60, with a staggering market cap of $1.28 trillion. However, there was a slight drop in 24-hour trading volume, falling 7.49% to $18.27 billion.
This may interest you: Uniswap Hack: Multicall misused in phishing attack, drains 85 Lido ETH
What could be the reason behind the awakening of this long-dormant wallet? Let’s hear your theories!