Old Bitcoin Wallets Reactivate After 16 Years of Dormancy, Fueling Satoshi Speculation

Old Bitcoin wallets have reactivated after more than 16 years of inactivity, sparking speculation that they could be tied to Satoshi Nakamoto. According to on-chain analysis, 12 dormant Bitcoin addresses collectively moved 600 BTC on Saturday.

The amount is currently valued at around $48 million. While the timing has fueled 'Satoshi-era' narratives, Whale Alert's research claims it found no evidence linking the transactions to Nakamoto.

Whale Alert says the moved funds trace back to block rewards earned during March 2010, when Satoshi was still actively involved with the project's early development and communications. The analysis extends from seven to twelve rewards, tracing all 12 block rewards to Bitcoin blocks mined in March 2010.