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A Bitcoin ($BTC) address from 2010 has become active after being dormant for over 16 years. The address has transferred around $3.4 million in $BTC.
According to blockchain tracking platform Whale Alert, the address held 50 $BTC, which was roughly equivalent to $3,442,939 at the time of activation.
The dormant address had been inactive for 16.2 years. Back in $BTC's early days, all 50 $BTC were worth just $3.
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Notably, this wasn’t the only old Bitcoin address that suddenly became active.
According to Whale Alert, another dormant Bitcoin address holding 50 $BTC worth roughly $3,442,129 became active after 16.2 years.
The address became active with 50 $BTC.
The two transfers took place within minutes of each other on Nov. 13. Hence, the total value of the newly activated Bitcoin comes to around $6.89 million.
There’s no confirmation about who owned these wallets. Also, it’s not confirmed if the same individual or entity owns these addresses.
The reason these addresses are significant is that they date back to 2010, which is considered to be the Satoshi era.
In simple terms, the Satoshi era refers to the first few years of Bitcoin, mainly 2009 and 2010. During those years, the pseudonymous founder of Bitcoin, Satoshi Nakamoto, was pretty active in the network's development.
To be precise, Bitcoin came into existence in January 2009. It initially carried a block reward of 50 $BTC. This block reward of 50 $BTC continued until Bitcoin had its first halving in November 2012.
This is why these newly activated addresses’ holdings of 50 $BTC match the rewards miners could receive during the early days of Bitcoin.
These old addresses always raise a lot of interest as Bitcoin had relatively few miners and users during those times.
However, this does not mean that these wallets are owned by the mysterious founder of Bitcoin.
This recent activation comes after a series of interesting activations in the crypto world. These are long-dormant crypto addresses that have become active over the past month.
On Oct. 22, a Bitcoin address with 170 $BTC worth roughly $14.38 million became active after being dormant for 13 years, as reported by Whale Alert.
Prior to this, on Oct. 20, a dormant address with 500 $BTC worth around $41.54 million became active after 10.7 years. In 2016, these holdings were worth just $194,955.
Later, crypto analytics platform Arkham linked the 500 $BTC transaction to addresses belonging to convicted Irish drug dealer Clifton Collins. Previously, his crypto holdings were deemed inaccessible.
On Oct. 17, Whale Alert tracked activity involving old Bitcoin addresses holding 248 $BTC and 167 $BTC worth roughly $20.24 million and $13.65 million, respectively.
