Dormant Satoshi-Era Bitcoin Wallet Reawakens After 10 Years; Bitcoin Hits One Billion Transactions
Summary:
A Bitcoin wallet from the Satoshi Nakamoto era, dormant for ten years with 687 BTC, resumed activity recently. Additionally, Bitcoin cleared its one billionth transaction, over 15 years after its launch. Furthermore, crypto venture capital saw a dramatic rise in the first quarter of the year, ending a previous three-quarter downward trend.
After a decade of inactivity, a Bitcoin wallet bearing 687 BTC has made a move. Bitcoin reaches a benchmark by clearing a billion transactions, 15 years, four and four days post its initiation in January 2009. Concurrently, the crypto venture capital saw a sharp rise, marking an end to the continuous falls in the previous three quarters.
An untouched Bitcoin address, from the period when Satoshi Nakamoto was active, has sprung back to life after a decade. A total of 687 BTC ($43.9 million) has shifted to two different wallets from this Bitcoin wallet on May 6th. Initially 625.43 Bitcoin (BTC) went to an address starting with bc1qky and subsequently 61.9 BTC to bc1qdc. Such movements of funds from old wallets attract attention, especially when they're from the Satoshi era.
The term "Satoshi era" signifies the Bitcoin's initial days when Nakamoto, its creator, was actively participating in online discussions. Wallets from this era are rumored to have links to Satoshi himself. A report from Fortune suggests that nearly 1.75 million Bitcoin wallets have been inactive for more than a decade. Many among them hold significant BTC bought when the price ranged in double-digits, now valued in millions. Reportedly, the inactive wallets hold around 1,798,681 Bitcoin, valued at a whopping $121 billion in the current market.
In another significant event, the Bitcoin network documents its billionth transaction, 15 years after its inception. The Bitcoin dashboard by Clark Moody indicates the occurrence of the billionth transaction, clocked at 9:34 pm UTC on May 5, as shown by other data. This concludes an average daily transaction of 178,475 Bitcoins across its 5,603 days of existence.
Venture capital investments in crypto startups saw a meteoric rise this quarter, aligning with the bullish market trend. Between January and March, venture capital firms have pumped $2.49 billion into blockchain and crypto startups, a 29% hike, as reported by Galaxy Research. A total of 603 deals benefitted from the funding. This compensates for the steady decline of the previous three quarters.
Among these, "Infrastructure startups" secured 24% of the total capital raised, led by EigenLayer with $100 million. "Web3 firms" amassed 31% of the total capital raised. Geraint Price, Ana Paula Pereira, Sam Bourgi, and Felix Ng contributed to the reporting.
Published At
5/6/2024 2:27:56 PM
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