Bitcoin BTC/USD continues to make headlines as it reaches new heights, and its latest surge to the $30,000 level has prompted some long-dormant accounts to be reawakened.
What Happened: Two wallets that had a total of 100 BTC, originally mined way back in 2010, have recently been moved to different wallets, with the combined value of the transferred BTC being worth more than $3 million.
These wallets are from the era when Bitcoin creator Satoshi Nakamoto was still active, adding further intrigue to their activity.
This move signals the re-entry of the transferred coins into the group of BTC “whales,” representing investors who hoard vast quantities of Bitcoin and do not trade it for long periods of time.
This also comes at a time when BlackRock BLK, the world’s largest asset manager, filed for a Bitcoin ETF, joining a growing list of companies looking to offer crypto-focused investment products. If approved, the ETF would provide more accessible and public investment opportunities for institutional and individual investors.
More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: Satoshi Nakamoto is the pseudonym used by the unknown person or persons who developed the original Bitcoin protocol in 2008 and created the first blockchain database. The identity of Nakamoto remains unknown, and it is unclear how much BTC they hold, as the creator(s) of Bitcoin never publicly disclosed ownership of their stake in the cryptocurrency.
In the last month, several Bitcoin “whales” with long-dormant accounts have been awakened, leading to speculation in the crypto community regarding their identity and motives for reactivating their accounts.
This news of a wallet being reactivated after a decade of inactivity, containing a large sum of Bitcoin worth $37.8 million, is just the latest example.
Price Action: At the time of writing, BTC was trading at $30,266 down 0.17% in the last 24 hours, according to data from Benzinga Pro.
Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
