'Satoshi-Era' Bitcoin Worth $43M Moves After A Decade Of Dormancy
Portfolio Pulse from Mehab Qureshi
Over 1,000 'Satoshi-era' bitcoins, mined between 2009 and 2011 and dormant since 2010, were moved to trading platforms and custody solutions, with a current market value of $43 million. This follows a November event where three dormant Bitcoin wallets from the same era moved $230 million worth of Bitcoin. The recent transfer involved dispersing the bitcoins to various addresses. Bitcoin is trading at $43,698, down 0.78% over the last 24 hours.
December 07, 2023 | 12:30 pm
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1,000 'Satoshi-era' bitcoins valued at $43 million were moved after a decade of dormancy, indicating potential activity from early Bitcoin adopters or 'whales'.
The movement of a large number of bitcoins from the 'Satoshi era' could signal potential selling pressure or simply a strategic wallet transfer. The impact on the short-term price is uncertain, as it could lead to increased volatility due to market speculation. However, without clear evidence of the intent behind the transfer, the impact remains neutral.
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IMPORTANCE 75
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