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Bitcoin address from the Satoshi come to life after 11 years

A long-dormant Bitcoin address from the Satoshi era has come alive, amassing a staggering $9.6 million in profits after 11 years. The address, 1MMXRA, held over 412 Bitcoins worth $8 in 2012, and the coins were finally moved in 2023, reaping a massive 120,000,000% profit at the current price of $23,000 each.

Interesting Points About Satoshi Nakamoto:

Breaking news! A Bitcoin address from the Satoshi era has come to life after 11 long years, making a staggering $9.6 million in profits. The address, 1MMXRA, held 412.12 Bitcoins accumulated over four transactions, worth only $8 back in October 2012. But it was not until February 8, 2023 that the coins were finally moved, at the current price of $23,000 each. This represents a massive 120,000,000% profit.

It’s not often that we see coins from that era being spent again.

According to Glassnode, a leading on-chain analytics provider, coins that have been dormant for over 155 days are considered to be less liquid and are increasingly unlikely to be spent. However, when we see old coins being moved, it could be an indication of a change in conviction to hold the asset, especially during periods of market volatility.

In March 2022, another ancient wallet holding 489 Bitcoins, dating back to October 2010, was emptied. This was long before Bitcoin’s pseudonymous creator, Satoshi Nakamoto, had left the project. It is believed that Satoshi may hold as much as 5% of the entire Bitcoin supply, but many believe that those coins will never see the light of day again.

Bitcoin developer Luke Dash Jr. says that no one knows for sure whether Satoshi has ever touched those coins or if he still interacts with them today. However, he believes that if Satoshi is not dead, then he must have lost his keys.

This is a developing story and we will keep you updated with more details as soon as they become available. Stay tuned!