Recently, a sensational claim surfaced on social media regarding the famous figure of Satoshi Nakamoto, the enigmatic creator of Bitcoin. This post alleged that Nakamoto had moved a staggering 10,000 BTC, sparking massive speculation across various platforms. A screenshot was even shared to substantiate this startling assertion.
The significance of such an action cannot be understated, as Nakamoto’s reserves date back to Bitcoin’s inception and have remained untouched. However, a thorough review of blockchain transactions reveals a very different reality.
Examining the Alleged Transaction of Satoshi Nakamoto
According to a tweet from a crypto enthusiast named Discover, Satoshi Nakamoto had supposedly transferred 10,000 BTC from a long-dormant wallet. This proposed sale, worth over $760 million, was predicted to have adverse effects on the already fragile Bitcoin market, which was experiencing bearish trends and low trading volumes.
The screenshot circulating alongside this rumor originated from Arkham Intelligence, a well-known analytics platform for blockchain data. It depicted an outflow of 10,000 BTC into an address identified as ‘bc1qcj,’ claiming the last activity occurred 12 years prior.
Despite these claims, a careful examination of blockchain data does not support the reported transactions. Research into Arkham Intelligence indicates that there is no verifiable evidence linking a transfer of 10,000 BTC to any address associated with Nakamoto.
In fact, the accurate data reveals that Nakamoto’s wallets have seen no outflows in over a decade. The only activity has been minor inflows, consistent with normal transaction behavior on the blockchain, such as negligible amounts totaling 0.0000329 BTC recorded just six days ago.
Reasons Behind the Speculation
The mystery surrounding Satoshi Nakamoto’s identity and actions continues to captivate the crypto community. As the most significant holder of Bitcoin, it is estimated that Nakamoto mined nearly 1 million BTC during Bitcoin’s formative years. However, he has remained silent since spring 2011.
Any rumors suggesting that these long-guarded coins may start moving can easily attract widespread attention and provoke immediate reactions. This context sheds light on why this particular post gained traction rapidly, even though it was based on flawed data. Presently, data from Arkham Intelligence indicates that Nakamoto’s wallets still contain around 1.096 million BTC, valued at approximately $84.3 billion.
Moreover, Bitcoin’s trading landscape has been remarkably volatile. In recent days, Bitcoin’s price has fluctuated dangerously close to cycle lows, recently trading in the mid-$70,000 range. Current figures suggest Bitcoin is trading at $76,872, having recently dipped to an intraday low of $74,591, as cited by information from CoinGecko.
