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Satoshi Nakamoto: His wallet is suddenly activated after 9 years, with 616 BTC

A bitcoin wallet that had been inactive for almost nine years has mysteriously been activated.

The digital wallet, which contains 616 BTC, dates back roughly to the time when the pseudonymous creator of bitcoin, Satoshi Nakamoto, was last active online.

Since it was last used, the value of the reserve has increased from around $ 8,000 to more than $ 26 million.

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Billions of dollars in bitcoins are trapped in digital wallets that have not been opened in years, yet the semi-anonymous design of the cryptocurrency means that it is not possible to link accounts to an individual or group.

It is possible to track the movements of the contents of a wallet through the online blockchain registry and if the funds are moved to an exchange and collected, then it is possible to identify who controls it.

It is not the first time that an inactive wallet containing large sums of bitcoin has been activated without explanation in recent years.

Last November, a mysterious person moved more than 1 billion in bitcoins from the fourth largest cryptocurrency wallet in the world.

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The latest moves were first detected by crypto tracking service Whale Alert, which published the details of the transaction online.

A list compiled by BitInfoCharts of the most valuable dormant bitcoin wallets reveals that there are dozens of crypto addresses that have been dormant for at least nine years.

The most valuable wallet contains almost 80 thousand bitcoins, with a value of more than 3.3 billion dollars at the current exchange rate.

A recent analysis by cryptocurrency market intelligence firm Glassnode estimated that long-term bitcoin holders own about a third of the cryptocurrency’s total supply, which is capped at 21 million coins.

Withdrawing a large amount of bitcoin is likely to cause a significant short-term price drop and cause volatility across the crypto market.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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