According to prominent blockchain tracker Whale Alert, a Bitcoin wallet containing 489 coins was enabled for the first time since 2010.
Over the period of more than 11 years, whoever controls the address has managed to turn a paltry $50 into $20 million by resisting the desire to pay out.
The antique wallet has sparked a lot of speculation about whether or not its owner had enough conviction to save the monies for almost a decade.
The address may be traced all the way back to Satoshi Nakamoto, the enigmatic Bitcoin developer who vanished from the community in April 2011. This, of course, piqued people’s attention even more.
The most likely scenario is that someone found their long-lost private keys by accident and obtained access to a large sum of money. Some speculate that the owner was released from prison and was able to cash out the cryptocurrency.
In the meantime, the price of Bitcoin has dropped by almost 7% in the last few hours.
Image by tradingview.com
On Wednesday, the flagship cryptocurrency unexpectedly soared to $42,000, but it has since trimmed its recent gains. The recent rise turned out to be a trap. The most valuable cryptocurrency is currently down 43.15 percent from its all-time high.
According to Coinglass data, almost $36 million worth of Bitcoin has been liquidated in the last four hours. Long positions make up 94 percent of the total.
The sell-off has been linked by some Twitter users to the activation of the Satoshi-era wallet, but the two events are highly unlikely to be linked.
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