Satoshi-Era Bitcoin Wallet Awakens After 12 Years To Book Over 150,000% Gains

A substantial amount of Bitcoin BTC/USD that had been lying dormant for several years has come back to life.

What Happened: Over 139 Bitcoins, which had been acquired in June 2011 for slightly over $2,250 dollars, were moved into a new Segwit (Segregated Witness) address. This haul is now valued at $3.5 million at Bitcoin’s current price mark – a 155,456% increase.

These Bitcoins are part of what is known as Ancient Supply, coins that were bought at least seven years ago, though some experts take five years as their base date. 

In 2021, quite a few ancient Bitcoin units were in motion, with around 3,200 BTC that were not till now in circulation coming back into the market. A report from Glassnode suggests that 1,100 Bitcoins had been acquired before 2013.

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Why It Matters: These developments have aroused significant curiosity about the intentions of those behind the transactions, mainly considering that many of the original owners of these coins might never disclose their identities due to Bitcoin’s pseudonymous nature.

For instance, there is speculation about Satoshi Nakamoto’s (Bitcoin’s creator) stash, which is believed to constitute 5% of the total Bitcoin supply.

Price Action: BTC was trading at $$27,283.20, up 1.63%, in the last 24 hours, according to Benzinga Pro.

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