Satoshi-Era Whale Awakens with Millions in Bitcoin After 14 Years of Anabiosis

Mon, 04/15/2024 - 08:57
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Popular cryptocurrency tracker Whale Alert spreads the word about yet another whale, which has remained dormant since the times of Satoshi Nakamoto, awakening and containing Bitcoin worth millions of U.S. dollars.

This dormant wallet was reactivated after Bitcoin’s massive plunge on Saturday and its partial recovery since then.

Satoshi-era wallet awakens

The above-mentioned source revealed that a blockchain address that contains 50 BTC worth $3,314,211 at the time of the tweet's publication has been awakened after staying untouched for 14 years.

The last time it saw any Bitcoin movements was 2010 – the year when the mysterious BTC creator Satoshi Nakamoto chose to step away from Bitcoin and disappeared, leaving his brainchild in the hands of a few keen developers.

Over the past few months, quite a few dormant cryptocurrency wallets have been spotted awakening after being inactive for 10-14 years. They contained both early mined/bought Bitcoin coins, as well as Ethereum obtained during the ICO in 2014.

As a rule, many holders decide to start selling their old stashes after a decade of holding, aiming to capitalize on the BTC or ETH price surge. However, in many cases, users also only manage to recover their long lost private keys by now.

Bitcoin's market performance

Over the weekend, on Saturday, Bitcoin suddenly displayed a massive plunge of more than 12%, dropping from the recently regained $70,900 to $61,970. Many believe it was down to a new development in the Middle East.

After that, however, Bitcoin has recovered by more than 7%, reaching $66,342 – the price level where it is changing hands at the time of this writing.

'Really Bullish on Bitcoin': Samson Mow Breaks Silence After Crypto Bloodbath

MicroStrategy outperforms Bitcoin

Founder of MicroStrategy Bitcoin-focused behemoth Michael Saylor has recently taken to the X platform to share a graph that shows his company outperforming the pioneer cryptocurrency.

The graph shows that since August of 2020, when the company started regular Bitcoin purchases to add that BTC to its balance sheet, MSTR has increased in price by a whopping 1,097%. Bitcoin, in the meantime, has appreciated by 463%, with gold rising only by 16% and silver dropping 1%.

“Capitalize on Bitcoin,” Saylor tweeted. MicroStrategy has made its Bitcoin purchases in a couple of recent years by issuing Convertible Senior Notes and other similar types of securities to raise funds from investors to acquire additional amounts of Bitcoin.