Satoshi-Era 2012 Wallet With 616 BTC Has Been Activated, Triggering Speculation

September 21, 2021, 10:15 AM AEST - 3 weeks ago

For a host of reasons, Satoshi-era wallets tend to have extremely low levels of activity. It was therefore unsurprising that a recent transaction of 616 bitcoins to another wallet triggered widespread speculation as to the identity of the wallet owner.

Wallet’s Value Skyrocketed

After showing absolutely no activity since 2012, on September 9 the wallet containing 616 bitcoins shifted the entire stash to a new wallet. Since then, the bitcoins have again been moved and currently appear to be located within a previously unused, empty wallet.

BTC price chart since 2012

At the time of the bitcoins being deposited, the wallet’s value was US$8,195, or approximately US$13 per BTC. Some nine years later, the wallet had swelled to US$29.4 million, providing its owner with a rather generous return in excess of 358,000 percent.

Speculation Runs Rife

Given Bitcoin’s elusive and mysterious founder, speculation is unavoidable on each occasion that Satoshi-era transactions like this spring up.

In July this year, Crypto News Australia reported that a wallet which had been dormant for close to a decade had transferred US$21 million worth of bitcoin.

On this occasion, speculation was rife and varied: from suggestions that it was someone involved in the infamous Silk Road who had got out of jail to Satoshi himself.

Whatever the reality, the prospect of establishing the true identity behind the transaction is slim to none.

Bitcoiners tend to be private, particularly those with significant holdings. The one exception of course is the widely discredited Dr Craig Wright, an Australian with a penchant for the limelight who famously declared that he is Satoshi.

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