A bitcoin wallet that has been dormant since the cryptocurrency’s anonymous creator was still active online has suddenly become active.
The wallet was last used on May 17, 2010, less than a year before the pseudonym Satoshi Nakamoto sent his final email to fellow crypto developers.
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The 50 bitcoins contained within the wallet were worth less than $4 when they were last used 11 years ago. Bitcoin’s astonishing price gains since then means the fund is now worth over $3 million at today’s rates.
The semi-anonymous nature of bitcoin means that it is possible to track transactions on a public blockchain, although it is not possible to link them to an individual or group.
This isn’t the first time a so-called “sleeping whale” has woken up this year, with a similar amount from the same time period back in July.
The 50 bitcoins achieved come from the mining reward size, which was 50 BTC per block at the time.
Last month, a bitcoin wallet containing 616 BTC also became active after being unused for almost nine years.
Bitcoin’s underlying technology means that only 21 million bitcoins will ever exist, although several million remain trapped in decades-old wallets whose access keys have been lost or forgotten forever.
NS most valuable passive wallet There is currently around 80,000 BTC – around $5 billion at current exchange rates.
The accumulated amount in bitcoin addresses that have been inactive for more than nine years has exceeded $20 billion, according to statistics From Bitinfocharts.
That’s about 2% of bitcoin’s overall market cap, while a recent analysis by crypto market intelligence firm Glassnode estimates that roughly a third of all bitcoin is owned by long-term holders.
Credit: www.independent.co.uk /