More On: Bitcoin
Senators and regulators explain why the $60 billion collapse of a major cryptocurrency is not the industry's Bear Stearns moment
Recently, Whale Alert claimed that for the first time since 2010, a Bitcoin wallet containing 489 coins had been enabled. It's worth noting that the activity takes place directly in the midst of the Bitcoin price, which is now hovering at $39,257.
BTC/USD 4-hour chart | Source: TradingView
Satoshi-Era Bitcoin wallet suddenly activates after 11 years
The vintage wallet has sparked speculation about whether its owner has enough faith to save this money for more than a decade. However, this account holder potentially transformed $50 into $20 million by resisting the desire to withdraw over an 11-year period.
Source: Whale Alert
This address dates back to Satoshi Nakamoto's active years as the mysterious Bitcoin developer, who departed the community in April 2011. And, as a result, the community grew even more interested in the news.
It is usually assumed that someone unintentionally discovered their long-lost private key and acquired access to a vast fortune. Some assume that the owner was released from jail and was able to withdraw the cryptocurrency.
The announcement comes after the leading cryptocurrency unexpectedly surged above $42,000, but it has since recovered. The current price increase has devolved into a bull trap. The largest cryptocurrency is presently 43.15 percent lower than its all-time high. Some users blamed the sell-off on the activation of Satoshi-era wallets, but the two events are unlikely to be related.
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