A Bitcoin (BTC) wallet containing 1,005 BTC mined in 2010 has recently come back to life, as an anonymous user has begun moving the long dormant coins to new addresses through various transactions. This development has caught the attention of the cryptocurrency community, with speculations arising about whether Bitcoin’s elusive creator, Satoshi Nakamoto, is behind the movement.
To shed light on this event, Cointelegraph reached out to Kirill Kretov, a blockchain researcher, developer, and cryptocurrency trader, who initially noticed the movement of the BTC. After reviewing the details of the wallet using blockchain data from Blockchair, it was confirmed that the 1,005 BTC, which were received in 2010 when they were valued at just $328, are now worth over $29 million.
Kretov dismissed the notion that Satoshi Nakamoto is behind the transaction, suggesting that it is more likely a long-term holder or an entity associated with previous dormant Bitcoin awakening incidents. He further speculated that the bitcoins could be sold in an over-the-counter transaction at a higher price compared to the current market, as these coins are considered completely clean and also hold historical significance to crypto-numismatists.
According to Kretov, this reawakening of the BTC wallet may be linked to the same user who has previously moved Bitcoin from thirteen different wallets in 2020 and 2021. In each instance, 1,000 BTC from wallets containing 50 mined BTC were awakened, totaling to 13,000 BTC. Kretov’s research archive on virgin Bitcoin wallets in the years following the inception of Bitcoin only recorded three other awakenings of 1,000 BTC or more.
One of the previous incidents involved the movement of 1,000 BTC from two wallets mined in 2011 in December 2021. In April 2023, another 1,000 BTC mined in 2011 from a single wallet was moved, followed by the reawakening of 1,037 BTC in July 2023 from a wallet dating back to 2012. Kretov highlighted that these instances differed from the current one as they involved older coins from 2011 and 2012, and the sources of funds were also distinct.
This recent activity follows another dormant BTC wallet’s transfer of over 1,037 coins to a new address. The BTC in this wallet were acquired in April 2012 at an estimated value of $5,100, and their total worth when moved in 2023 reached approximately $31 million.
In light of these developments, Cointelegraph is offering to preserve this moment in history and support independent journalism in the crypto space by allowing readers to collect this article as an NFT (Non-Fungible Token). Additionally, the magazine covers the topic of Satoshi Nakamoto’s Bitcoin and the value it holds as a legacy.
As Bitcoin’s early mined coins continue to reawaken after years of dormancy, the cryptocurrency community remains intrigued by the mystery behind these transactions and their potential implications for the market. The movement of these virgin bitcoins has sparked discussions about the motivations of the holders and whether they will have a significant impact on the cryptocurrency landscape.