The Crypto world never fails to churn out some excitement and intrigue in the form of sensational news that turns the heads of quite a number of people. And once again it has wielded its power and it has caused quite a stir within the crypto community which is charged up with equal amounts of intrigue and curiosity. After almost a decade, a significant movement has been reflected in a dormant Bitcoin wallet and it has caused a ripple effect within the crypto community which is rather curious about this out-of-the-blue incident. Another major point of highlight that is drawing in a lot of attention is the fact that the activated wallet dates back to the time of Satoshi Nakamoto, a name that is already shrouded in mystery.
The What and Why
For those who have watched Harry Potter, it would be quite easy to draw an interesting parallel here. Just like the Dark Lord returned after long years in the shadows causing ripple effects throughout the wizarding world, this previously dormant Bitcoin wallet which decided to “wake up” all of a sudden without the slightest hint towards what and why and how has caused a similar effect. The news of this wallet being activated was reported by Whale Alert on Twitter about 17 hours ago. The aforementioned wallet has made not even a single transaction since the year 2011. And now the sudden arousal from the decade-old stupor has resulted in turning the owner of the wallet into a billionaire. The questions are quite a lot. Why the sudden cashing out after such a long break? And what is the secret agenda behind this abrupt waking-up? What adds yet another layer of mystery and curiosity is the fact that the wallet is from a time when Satoshi Nakamoto, the creator of Bitcoin was still around before suddenly disappearing in the year 2014. Ever since that vanishing act, people have been quite adept in their efforts to figure out the identity of the Bitcoin creator with a good majority of them convinced that Nakamoto is none other than Nick Szabo, who has denied it a million times already that he doesn’t care anymore.
The activated wallet made a huge transfer of 500 Bitcoins for the very first time since the year 2011. Back then this was worth around $8,425 which is now a whopping $23,665,502. Although it seems like a classic case of the phrase, “Patience pays,” it is rather hard to think that someone waited 10 long years to cash out their Bitcoin stash. A possibility that makes more sense is that someone struck a lucky chord and managed to unlock the wallet.