An address containing more than $26 million worth of bitcoins has been activated after more than nine years of dormancy, sparking some wild speculation. The transaction was spotted earlier this week by popular blockchain tracker Whale Alert, which tweets and reports important developments in cryptocurrency wallet activity.
The mystery address contains 740 bitcoins (valued at about, $26,147,621 as of July 15, 2021) and on July 12, 2021, some 640 bitcoins ($21,104,060) were transferred to another wallet. When this address was last used 9.1 years ago, a pile of bitcoins would cost approximately $10,000. This amount of money can bring tears to most eyes, yet Whale Alert regularly sees millions of dollars of cryptocurrency shifting here, there, and everywhere. The significance of this activity lies in the fact that exactly three years after the introduction of Bitcoin, this address was idle for more than nine years.
There have even been some tongue-in-cheek suggestions that the activity could be the movement of Santoshi Nakamoto, the disguised creator of Bitcoin. Santoshi Nakamoto is a pseudonym or person who created Bitcoin by name. This person or persons have gained a near-legend status since the advent of Bitcoin. Although many claim to be Satoshi, most agree that their identity is a mystery or at least uncertain. Whoever they are, as of July 15, 2021, they are thought to have 1 million bitcoins, valued at $31.8 billion. However, there is no hard evidence to link this recent activity to contentment. Although this address was probably an early bitcoin mine, many people mined alongside Satoshi over the first few years of bitcoin.
Others have expressed concern that the operation is the result of years of initial bitcoin adapter worries and memorizing their wallet passwords after quarrels, whether one person tweeted:
Recent months have seen similarly mysterious activity from “old-school bitcoin whales,” especially after the crash earlier this year. In June 2021, another address that had been inactive for almost nine years sent Bitcoin worth about $34 million to another wallet.