After being dormant for nearly nine years, an address with more than $26 million in bitcoin was just activated. This sparked wild speculation.
Whale Alert, which is a popular tracker of blockchain activity and tweets about notable movements in cryptocurrency wallet activity, noticed the transaction earlier this week.
The mystery address contained 740 Bitcoins, which were worth approximately $26,147,000.621 USD as of July 15, 2021. It also reportedly transferred approximately 640 bitcoins ($21104,060 to another wallet on the 12th of July 2021. The bitcoins were worth about $10,000 when the address was last used 9.1 years ago.
Whale Alert regularly receives thousands of dollars in cryptocurrency transfers from all over the world, even though this amount might seem a bit excessive. This activity is significant because this address had been idle for just nine years, three years after bitcoin launched. It suggests that the address owner/owners were early adopters of cryptocurrency.
Even some jokey suggestions that this activity could be the movements from Satoshi Nakamoto, the mysterious creator of bitcoin, have been made.
Satoshi Nakamoto, the pseudonymous person who created bitcoin, is its name. Since the invention of bitcoin, this person or people have achieved a quasi-legendary status. Although many have claimed to be this person or persons, most people would still disagree that their identities are known. They are believed to be Satoshi, who is thought to have over 1,000,000 bitcoins, and a total of $31.8 billion, as of July 15, 2021.
However, there is no evidence linking this activity to Satoshi. This address may have been an early miner of bitcoin, but there were many people mining alongside Satoshi in the first few years.
In recent months, similar mysterious activity has been observed from the ‘old-school Bitcoin whales’ in particular after the crash earlier this years. Another address that had been inactive for nearly nine years, reportedly shipped about $34 million of bitcoin to another wallet.