On May 20, 40 Bitcoins were moved from a wallet believed to belong to the mysterious Bitcoin founder, Satoshi Nakamoto, to an unknown account. The suspicious move rattled the Bitcoin community, causing BTC to fall by 7.83% as at press time.
WhaleAlert, a popular crypto tracker for large blockchain transactions, revealed the transaction in a recent tweet. The transaction receipt shows that 40 BTC (about $391,055) was transferred at exactly 12:54:45 UTC, from a “possible Satoshi owned wallet” to an unknown wallet.
WhaleAlert believes the wallet of origin belongs to Satoshi because the block was mined within the first 30 days of Bitcoin’s creation. The wallet had been dormant ever since.
Satoshi Nakamoto is the unknown creator(s) of Bitcoin, responsible for writing and publishing the king coin’s whitepaper. The name is thought to be a pseudonym as the identity of the creator(s) remains unknown. BSV creator Craig Wright is however infamous for claiming he is Satoshi.
The crypto community believes that Satoshi may have mined a large number of blocks (between 700,000 – 1 million BTC) and stashed them away in private wallets, all of which have been dormant since Bitcoin launched in 2009.
As is typical in every market, panic creeps in when a major stakeholder begins to sell large shares for whatever reason. Satoshi’s trade triggered a ‘sell order’ among crypto traders which caused a drop in the BTC price.
BTC currently trades at $9,027.58.
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