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Bitcoin rumour: $500,000 of Bitcoin moved to an unknown wallet, is it Satoshi?

Written by  May 20, 2020

The rumour mill has just sparked up again as 50 bitcoins have just been transformed from a crypto wallet, is it Satoshi?

It seems that the coins were first mined when bitcoin was first created and are now worth around $500,000 in a crypto wallet not used since 2009.

There have been rumours going around at the crypto space for over 10 years now as to who Satoshi Nakamoto actually is and maybe we will never know. The reason we bring him/her/them up is that someone close to them could have potentially found the wallet. Whereas others believe that it could’ve just been an early miner on the bitcoin network that has simply forgotten about one of his old coins and was finally able to recover the keys to his wallet, people and their speculation carry on.

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Mati Greenspan, one of the most well-known figures in the crypto space, took to Twitter to ask the question: is Satoshi alive? Other people within the industry ask the same question during this time. After someone found out about the coins moving to a new wallet, the price of bitcoin sank to $9400 from $9700 in just mere minutes.

For a few weeks now, the price of bitcoin has been trading sideways and this event has only (possibly) triggered a quick crash. This could easily be going into an extended downtrend on his daily chart but if Satoshi Nakamoto is actually alive and a real person, the question has to be asked as to why he would deliberately move his assets and see bitcoin crash in this way.

To me that is highly unlikely, prices change and the unfortunate side to these rumours is the affects on market sentiment are very real, despite what the technical indicators tell you.

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Peter Flynn

Senior Editor and self confessed Crypto addict, bringing a variety of Crypto tech news, help and advice in the UK. I have worked in various fields throughout my career such as a Systems Administrator, Cyber Security Consultant and other technical related roles, these days I concentrate on Cryptocurrency journalism and technical writing.

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