'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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NEUTRAL IMPACT
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.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100