An address from the Satoshi era, belonging to Bitcoin (BTC), became active after 13 years. The wallet transferred 139 Bitcoins to another address.
After years of dormancy, some old Bitcoin addresses are waking up and closely monitoring the market. In recent days, 139 Bitcoins from the address 1H1Ab6Jkpx2ZtMbBZ9ctxaXPMDmf6k3JvK were transferred to a newly created Segwit address. This indicates a revival of BTC bought for slightly above $2,250 in June 2011. The current value of the 139 Bitcoins from the Satoshi era is $3.5 million. According to a report by Glassnode, this movement is part of a larger trend this year, with 3,200 BTC from old supplies coming back to life. Although these movements attract market attention, it is difficult to distinguish whether they are related to BTC sales or just personal storage practices.
The wallet had been silent for over a decade before moving the Bitcoins. This has sparked curiosity and speculation in the market. Last year in March, an old wallet created in October 2010 sold 429 Bitcoins. A year later, in February 2023, another wallet from the Satoshi era moved 412 BTC worth $9.6 million after more than ten years. Despite recent movements, many believe that a significant portion of Bitcoin's old supply has been permanently lost. Only 356,000 out of 4.25 million Bitcoins have been spent.
However, a recent report from Glassnode indicates that the number of Bitcoin held in the long term is increasing by 100,000 BTC per month. This suggests that many investors believe in Bitcoin's potential as a long-term asset. Additionally, considering the nature of Bitcoin, especially the supposed Satoshi stash that accounts for 5% of the total supply, it is impossible to know who owns these old cryptocurrencies or what they are doing with them.
