Satoshi-Era Bitcoin Wallet Reactivated With $10 Million in BTC Profits

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As a seasoned analyst who has witnessed the cryptocurrency landscape evolve from its infancy, I can’t help but marvel at the story unfolding before us today. The reactivation of an ancient Bitcoin wallet containing 150 BTC, which was mined when Satoshi Nakamoto himself was still actively engaging in the BitcoinTalk forum, is a testament to the power and potential of blockchain technology.

Blockchain investigator Whale Alert, known for tracing significant cryptocurrency transactions and old wallets reappearing on the blockchain, recently revealed information about a wallet that hasn’t been active in nearly 14 years – a time when Satoshi Nakamoto, the enigmatic creator of Bitcoin, was still an active member of the BitcoinTalk forum.

The value of the Bitcoins held in the activated wallet has skyrocketed, currently equating to millions of U.S. dollars following an extraordinary growth trajectory over the past few years.

394,933% profit gained by ancient Bitcoin whale

Originally holding 150 Bitcoins that hadn’t been used since 2007 (as per Whale Alert), this wallet’s contents were worth a mere $2,540 back then. However, upon reactivation in 2020, the same 150 BTC had skyrocketed to an astounding $10,033,846 – that’s a staggering 394,933% increase in value!

❄️ As an analyst, I’ve just discovered that a previously inactive Bitcoin wallet holding approximately 150 BTC (equivalent to about 10,033,846 USD as of today) has sprung back to life after more than a decade, having been dormant since it was last active in 2008. That’s roughly 2,540 USD worth of Bitcoin back then! 🤯

— Whale Alert (@whale_alert) October 24, 2024

Earlier reports from U.Today revealed that an old miner transferred approximately $10 million in Bitcoin to Kraken exchange. This miner mined their coins back in 2009, a time when daily mining output could reach around 3,000 Bitcoins due to the ease of mining. The first halving occurred in 2012, reducing the reward per block mined to 50 Bitcoins.

Bitcoin might be used as currency in six years: CryptoQuant founder

Ki Young Ju, founder and CEO of CryptoQuant’s on-chain data firm, recently spoke to his 30,000 followers, expressing his belief that the original function of P2P electronic cash, as envisioned by Satoshi Nakamoto for Bitcoin, may become a reality by the year 2030.

For Bitcoin to be utilized in this manner, it’s essential that it begins to function as a regular currency in day-to-day transactions, Satoshi emphasized to the crypto community. Contrary to popular belief, Satoshi never envisioned Bitcoin as mere “digital gold.

One reason he anticipates Bitcoin could evolve into a real currency is due to several factors such as:

Ju anticipates that a significant date for Bitcoin’s potential as a currency is April 2028, which marks the next halving event. Many early Bitcoin enthusiasts predict that by the year 2030, Bitcoin could potentially reach the highly anticipated $1 million price point. Notable figures among these influencers include Samson Mow, CEO of JAN3, and Max Keiser, who serves as a Bitcoin advisor to El Salvador President Nayib Bukele.

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2024-10-24 17:11