12 Year Ancient Bitcoin Wallet Activated Amid Price Dump

It is been more than 13 years since Bitcoin (BTC) was launched by Satoshi Nakamoto. Although BTC’s whitepaper was released in October 2008. Interestingly, an old BTC wallet from 2009 just got active amid the increasing crypto adoption. Meanwhile, the world still doesn’t know who Satoshi Nakamoto actually is and still, Bitcoin leads the way for other cryptocurrencies.

Ancient wallet holds $2.18M worth of BTCs

The Whale Alert, a blockchain tracker, shared an updated that a sleeping address containing 50 Bitcoins just got active after almost 12.4 years. The reported wallet comes from the Satoshi era when it was just the beginning for the BTC to decentralize the world economy.

According to Blockchain.com, the block was mined on 23 November 2009. It was just 10 months after the first Bitcoin was launched. However, BTC first breached the $1 landmark in February 2011, but today 1 Bitcoin can cost you over $43,000. Whoever owned this wallet, today he/she has become a millionaire. The ancient wallet holds $2.18 million worth of 50 BTC tokens.

There are many stories of early Bitcoin adopters sending the tokens to different people for paying their rent or bills for pizzas. The famous account of Laszlo Hanyecz who spent 10,000 BTCs just to buy 2 pizzas for himself comes from the year 2010. At that time his bitcoins were only worth $40 and now they could be worth anywhere from over $438 million. However, this ancient wallet is well before this incident took place.

Massive amount of BTC moved

However, WhaleStats have also reported multiple transactions of BTC being transferred from unknown wallets to different Crypto exchange platforms in the last 24 hours. These transactions have come amid the Bitcoin price drop by 3% in the last 24 hours. $248.84 million worth of 5678 Bitcoins has been transferred from 5 different unknown wallets to Coinbase. While 4,100 BTC has been moved from Gemini to Coinbase. The other 4 Wallets on Xapo have shifted $157.7 million worth of Bitcoins to Binance.

The Bitcoin is trading at an average price of $43,535, at the press time. Its 24 hour trading volume of $36,769,720,188 has seen a jump of 5%. BTC is still the king of the cryptocurrency with a market cap of over $827 Billion.

About Author

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]