Two Bitcoin wallets dormant for 14 years have activated, transferring 20,000 BTC, creating significant interest in the crypto community.
Activation of Wallets
On April 3, 2011, a Bitcoin wallet starting with '1HqXB' moved 23,377.83 BTC to three different addresses. Two of these wallets received 10,000 BTC each, while the third received 3,377.83 BTC. These two wallets remained dormant until early Friday when they transferred their BTC holdings to new addresses within 30 minutes.
Speculation about Owners
The term 'Satoshi era' refers to the early days after Bitcoin's creation, when its enigmatic creator Nakamoto was active in online forums. Some crypto enthusiasts speculate that these old wallets may belong to Satoshi himself. Others suggested on social media that it could be movement by Silk Road founder Ross Ulbricht, who was pardoned by President Donald Trump.
Rise in Bitcoin Prices
In 2011, the price of Bitcoin was around 78 cents. The 20,000 BTC transferred over 14 years has appreciated nearly 14,000,000%, rising from $7,800 to $2.18 billion. It is unknown whether the wallets belong to the same individual or group, although transaction history suggests that could be the case.
While the exact reason for the transfer remains unknown, the latest actions show that the wallets were transferred to non-exchange addresses, indicating no immediate intention to sell after more than a decade of holding.
