Bitcoin fans (BTC) around the world are looking in shock while the old Bitcoin wallet sees new activities after years of dormancy. The portfolio, which holds over $ 1 billion in BTC, is now sending coins to at least two exchanges.
Bitcoin wallet awakens awakening
Worldwide, coin-holders, investors and even regular crypto-enthusiasts are speculating about the new business in an old Bitcoin wallet.
The Bitcoin portfolio, which had been inactive for more than 4 years, is waking up and threatening to break the fragile balance of the market. Many are already in a state of panic because the movement could mean that a gigantic dump is about to happen.
The address was allegedly founded in 2011, on 2 July. Since then, he has not moved his coins until March 2014. At that time, there was some activity, as portfolio owners said they split their BTC supplies into smaller pieces. Recently, however, about 15,593 BTCs were sent to Bitfinex and Binance, while 210 BTCs ended up on Bitmex.
Who is there?
One of the greatest mysteries concerning the address could be its owner. A user of Reddit passing sick_silk has speculated a lot about who could be behind the address.
According to him, this could be the fame of the Dread Pirate Roberts of Silk Road. However, it is equally likely that the owner can be connected to Mt. Gox or the hackers who hit the exchange. One theory even suggests that this could be Satoshi Nakamoto.
What is known is that at least one, relatively small, transaction from this address was connected to a Bitcoin drug bazaar called Silkroad. For this reason, many are in agreement with sick_silk considering that behind it is Dread Pirate Roberts.
Also, since the address first appeared on MT Gox, many also claim that the address could belong to Gox. Even his former owner, Jed McCaleb, is one of the "suspects". However, both entities deny having anything to do with it.
Finally, the theory that Nakamoto is behind it lies in the fact that the address began in 1933. This was the year in which the President of the United States Franklin Roosevelt decided to give the confiscate the gold.
Nakamoto also announced his birthday on April 5, 1975, which is when this order was withdrawn. This is why Nakamoto is believed to be behind recent activities. Although, as many have pointed out, the fact that the address began in 1933 could only be a coincidence.
Obviously, any of these theories could be true, but just as easily – they could all be false. In short, nobody knows. The only thing that is known is that the address has moved its funds to March 2014, just when MT Gox has declared bankruptcy. Since then, the coins have been divided into smaller and smaller pieces, and some of them have started to reach several exchanges recently.
According to an unverified analysis, about 11,114 BTCs have already reached Bitfinex, with 4,421 sent to Binance. In addition, Bitmex received a shipment smaller than 210 BTC.
For this reason, many are panicking and fear that the price of BTC will fall just as stability has finally been restored. The new move will certainly raise some chaos, and it will be interesting to see how everything will work out.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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