A rare event created a short wave of panic in the cryptocurrency market this week. Indeed, at 10.54 am on Wednesday, a twitter account dedicated to the observation of transactions recorded on the block chain of the bitcoin network shared:
### 40 #BTC (391,055 USD) transferred from possible #Satoshi owned wallet (dormant since 2009) to unknown wallet… https://t.co/qD0sSAdXIS
– Whale Alert (@whale_alert)
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“40 BTC ($ 391,055 USD) transferred from a possible wallet owned by Satoshi (dormant since 2009) to an unknown wallet. The bitcoins in this transaction were mined in the early months of Bitcoin’s existence. ”
The price quickly reacted to this news, losing $ 700 in a moment before rebounding.
Why this reaction and what does this transaction mean? To fully understand, it must be kept in mind that it is estimated that the mystical creator of bitcoin, Satoshi Nakamoto, would have around 1.1M of BTC. We’re talking about $ 10 billion US here. However, these bitcoins have remained stagnant since their mining in 2009. As a result, they can suddenly be transferred and potentially sold raises fears of a collapse in prices by investors.
Analysts quickly looked into the transaction. While there is no doubt that these bitcoins have not moved since 2009, the consensus is that they were not the source of a block mined by Satoshi. It must be said that between 150 and 200 different miners were already present on the network in 2009. However, who is waiting 11 years before suddenly transferring such a sum? It is possible that a former miner suddenly and simply regained access to a wallet considered lost. Some believe, however, that it could be a snub to Craig Wright, proving the control of bitcoins that he said was stuck in the “Tulip Trust” in court. Wright quickly denied it, claiming that these specific bitcoins were never in his possession.
Speaking of the same “Tulip Trust” at the heart of the Dave Kleiman estate lawsuit against Craig Wright, new documents filed by Kleiman’s legal team suggest that Wright may already have the key, contrary to what he claims. allowing to decrypt the portfolio. We can read in particular:
“Wright’s refusal to open the encrypted file strongly suggests that he knows that its content will include partnership records, that he supports the existence of a partnership between Wright and Dave Kleiman, and that the 820,200 bitcoin of the list filed by CSW (or other comparable amounts) belongs to the partnership, as well as the intellectual property linked to the block chain created before Dave’s death. ”
This is a dispute that has not finished spreading the ink.
The bitcoin network got its first difficulty adjustment following last week’s halving on Wednesday. Following the drop in the hash rate pointed to the network, a 6% reduction in the level of difficulty was automatically implemented. The hash rate remains fairly stable right now after last week’s drop.
Impossible not to end this update with a mention of the day of the pizza for the bitcoin community. It is indeed ten years ago today that Laszlo Hanyecz spent 10,000 BTC on the purchase of two pizzas. These bitcoins would be worth $ 91M today.
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Warning: This column does not necessarily reflect the opinion of CryptonewsFR and in no way constitutes investment advice or trading instructions.
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