1,005 BTC mined in 2010 on the move

A Bitcoin (BTC) wallet containing 1,005 BTC mined in 2010 has been revived after an anonymous user moved the long-dormant bitcoin to a new address in a number of different transactions.

Blockchain researcher, developer and cryptocurrency trader Kirill Kretov has his thoughts on the event in an exclusive interview with Cointelegraph mark The trend of Bitcoin, which was mined a year after Bitcoin was created.

Cointelegraph independently verified the wallet details using Blockchair’s blockchain data. The 1,005 BTC were only worth $328 when they were received in 2010, according to the wallet statement. As of publication, the coins are worth more than $29 million.

The broader cryptocurrency community has also taken note of Bitcoin’s awakening, with some questioning whether Bitcoin’s anonymous creator, Satoshi Nakamoto, is moving Bitcoin:

Looks like Satoshi Nakamoto is back! I bet this wallet is owned by Satoshi Nakamoto himself.

— Wise Guy (@wiseguyhoshi) August 16, 2023

Kretov told Cointelegraph that it is unlikely that Bitcoin’s creator quietly moved the original BTC, suggesting that long-term holders or entities associated with the previously dormant Bitcoin awakening were behind the transaction. The researcher added that holders may be selling bitcoin through over-the-counter transactions:

“I expect prices to be higher than the current market because these are 100% clean bitcoins. Not to mention their age, which makes them particularly attractive for cryptography.”

Kretov believes that the wallet may be controlled by the same user who previously moved bitcoins from the wallet in 13 different instances between 2020 and 2021. According to the researchers, this involved 13 wake-ups of 1,000 BTC each (from 20 wallets containing 50 mined BTC), for a total of 13,000 BTC.

Kretov also pointed out that his research archives monitored a large number of original Bitcoin wallets in the years after Bitcoin was born, but only marked Three other awakenings of 1,000 BTC or more.

These include the first instance where 1,000 bitcoins were transferred in December 2021 from two wallets mined in 2011. In April 2023, 1,000 bitcoins mined in 2011 were transferred from a wallet, followed by a transfer of 1,037 bitcoins from a wallet in July 2023.until 2012

“These bitcoins are from 2011 and 2012, funded from a different source – not newly mined bitcoins. So the awakening now is closer to those 13 instances.”

As Cointelegraph recently reported, another dormant BTC wallet holding over 1,037 coins moved its funds to a new address. The BTC was acquired in April 2012 for an estimated value of $5,100, and when transferred in 2023 will have a total value of approximately $31 million.

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