Over $30M bitcoin that has been in idle wallets suddenly moved this weekend in four transactions. Last Friday, the first move was when 50 coins worth over $700,000 moved to a single address – it hasn’t been touched since 2010.
The same thing happened the following night when another 50 bitcoins has been moved. Then seven hours later, 20 wallets have moved a total of 1,000 Bitcoin to a single address.
And now, a similar thing happened again: 20 wallets holding 1,000 BTC moved to an individual address, bringing a total of $32.6M.
It is not clear who moved the Bitcoin or why they finally transferred it to another address, but these bitcoins were mined in 2010 when the currency is just small.
Kirill Kretov, a crypto trader, flagged the move on LinkedIn. He stated that the bitcoin has possibly moved because the current price of Bitcoin “is good enough to sell some portion of holdings.”
“Satoshi era” bitcoin means the coins mined when Bitcoin’s creator, Satoshi Nakamoto, was still communicating with the crypto world. Until now, Nakamoto’s identity is still unknown, and no one has heard from him since then.
If the mysterious coins owner were to sell them now, the profits would be stellar: In 2010, 1 Bitcoin is worth less than $0.10. Now the cryptocurrency trades for $15,342.56.
This is not the first time this year Bitcoin that previously had been collecting dust that has been moved.
In the previous month, $11.4 million worth of Bitcoin has been moved. It has also been sitting in a sleeping wallet since 2010.