A chain analysis report disclosed almost 1.75 million Bitcoin wallet dormant addresses from a decade ago.
The Bitcoin address that was inactive in the era of Satoshi becomes active after 10 years. These addresses are holding 687 Bitcoins with an estimated amount of $44.9 million. On May 6, someone transferred these holdings to two different wallets.
The first wallet received 625.43 BTC, and its address starts with bc1qky; however, the second wallet received the remaining 61.9 BTC, with a wallet address starting with bc1qdc. The anonymous transfer of Bitcoin, especially from Satoshi time, makes everyone curious in the crypto community.
The term Satoshi era refers to the time when Bitcoin and its founder were active online in forums. There are some rumors that these wallets have links to Satoshi himself.
Last year in August, after 14 years,, one wallet became active and shared 1005 BTC mined in 2010. This created a spark on social media, speculating that it was Satpshi‘s wallet.
The experts suggest that these are early miners who hold BTC just to make some profit.
Revived Dormant Bitcoin Wallets: Early Holder Trends
The total of $1.75 million worth of wallets remains dormant over decay, according to a report shared by Fortune. Most of these wallets hold significant amounts of Bitcoin, purchased at an early launch. These dormant wallets contain 1,798,681 BTC and are worth around $121 billion.
Source: Chainanalysis
In the last few years, many dormant Bitcoin wallets have become active and transferred their BTC to a new address. Some of these wallets transferred their BTC to crypto exchanges. Experts suggest that these early holders might be looking for a profit after ten years.
Source: Chainanalysis
In July 2023, a dormant wallet became alive and transferred BTC worth $30 million, and after that, another Satoshi-era wallet transferred $230 million worth of Bitcoin after multiple years of dormancy.
Experts believe that these three wallets refer to a single person of the organization since their last transaction on Nov. 5, 2017.
