An Anonymous Bitcoin Wallet Holding 1,005 BTC Recently Woke Up After 13 Years of Dormancy
A dormant Bitcoin wallet, one of the earliest created, has been reactivated after 13 years. This has raised speculation about a potential sell-off of the coins.
– Dormant wallet containing 1,005 BTC (worth $29.7 million) has been activated after 12.8 years.
– Reactivation of old and dormant wallets often sparks speculation about who controls them.
– 2023 has seen a high number of dormant Bitcoin wallets coming back to life.
– The Spent Output Age Bands (SOAB) indicator shows an increase in the number of 7 to 10-year-old BTC.
– Some believe that this wallet may belong to Satoshi Nakamoto, the creator of Bitcoin.
Bitcoin Selling Pressure Incoming?
The last transaction on this wallet was in April 2011, receiving 5 BTC when the price was around $1.99.
– The wallet now holds over $29 million worth of Bitcoin due to its consistent growth.
– Selling all holdings could introduce selling pressure and cause a temporary price drop.
– The owner has moved the BTC to another wallet, suggesting they are more interested in HODLing.
– Bitcoin is currently trading at $28,501, down 2.24% in the last day.
Hot Take
The reactivation of this dormant wallet has sparked speculation and raised questions about its owner. While some believe it could be Satoshi Nakamoto, the true identity remains unknown. The potential sell-off of the coins could introduce selling pressure on Bitcoin, impacting its price. However, the owner’s decision to move the BTC to another wallet suggests they may be more interested in holding rather than selling.
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