Address 1MMXRA has owned 412.12 BTC spread over four transactions since October 1, 2012, with a total market value of only $8. Up until February 8 when all but a sliver of the coins were removed from the wallet at a cost of $23,000 each, no coins entered or left the wallet.
The coins that were transferred are worth $9.6 million at today’s values, a profit of 120,000,000%.
Dormant coins are seen as a less liquid element of the supply because, after a 155-day holding period, they become “increasingly unlikely to be spent,” according to on-chain analytics firm Glassnode.
Increased use of ancient coins “may signal a shift in conviction to keep the asset”—often brought on by times of market turbulence. Glassnode’s newsletter from last month revealed that despite short-term holders taking advantage of the opportunity to benefit from the asset’s recent increase, the number of coins held long-term is increasing at a pace of 100,000 each month.
An even earlier wallet that had 489 Bitcoins released holdings from October 2010, when the price of Bitcoin was only $0.19, in March 2022. Due to mining in the early days of the network, Satoshi is said to own up to 5% of the total quantity of Bitcoin, although many don’t think those coins will ever trade hands again.
But if he had to guess, it probably meant the creator was already dead because there were no evident motions.
He tweeted to Decrypt, “If he isn’t dead, why would he let scammers to pose as him unchallenged (it would be simple for him to prove them false with a PGP or Bitcoin signature)?”
He concluded, “If not dead, at least he must have misplaced his keys.”