5000 BTC Era Satoshi Nakamoto Changed Address, Profit Status Equivalent to Rp1.4 Trillion

5000 BTC from the Satoshi Nakamoto Era Has Moved

According to U Today's report, the large movement of BTC was reported by crypto journalist Colin Wu through his Twitter account.

Wu said that the wallet which had been dormant for about 9 years had transferred all of its contents, totaling 5,001.51 BTC, to the new wallet on August 28.It is estimated that the profit status of that much BTC is more than US $ 96 million, or equivalent to Rp. 1.4 trillion.

Moreover, in the past year, old crypto wallets, which are around 7 to 10 years old, have awakened from their long slumber. It was a wallet made in the era when Satoshi Nakamoto was still around.Some traders and investors are worried that this big move will bring a further bearish wave. But what needs to be underlined is, the 5000 BTC did not move to the crypto exchange wallet.

According to a Times Tabloid report, crypto analytics platform CryptoQuant has also reported the big move on its Twitter account.The company emphasizes that sudden large, long-held moves can be a bad sign.However, CryptoQuant explained that such big moves are actually quite common this year and the price of BTC has often received intense sell-offs. Of course, that's because the market is in a bearish condition.

In its analysis, the company has seen that there were 10328 BTC from inactive addresses on March 29, 2022, which brought a correction to the Bitcoin price.Meanwhile, he sees this 5000 BTC movement has not been transferred to the crypto exchange wallet. Which means, it is not necessarily liquidated.

“It's hard to say what the impact will be on the market, it's definitely not a bullish sign,” said Maartuun, Trader and Community Manager at CryptoQuant.

He added that he was not yet sure whether this would be a decline, a correction or just following the big whale transactions.