Did the 'father of Bitcoin' just pay homage to 10,000 BTC?

Social media in Vietnam is spreading the rumor that the creator of Bitcoin has "come back to life" and is selling 10,000 Bitcoins. However, this information is untrue.

A statue of Satoshi in Budapest, Hungary. Photo: NY Post .

On February 2nd, many social media sites in Vietnam spread the news that Satoshi Nakamoto's wallet had unexpectedly come back to life after decades. Simultaneously, the creator of Bitcoin reportedly transferred the cryptocurrency from his wallet to an exchange for sale. The amount was approximately 10,000 Bitcoin, equivalent to $760,000 at the market price that day.

The aforementioned information quickly caused alarm, as the amount of Bitcoin held by the individual (or organization) in question reached over 1 million. This account had been inactive for a long time. If Satoshi did indeed sell his digital assets, it would be extremely bad news for the cryptocurrency industry, as the amount of BTC added to the liquidity pool would increase sharply, leading to dilution and a decrease in value.

The post went viral on social media in Vietnam.

To further increase credibility, the posters also included screenshots of the Arkham Intelligence tracking platform showing the Bitcoin creator's account. The screenshots depicted a transaction transferring 10,000 BTC from this account. This information appeared during a volatile market period, when Bitcoin plummeted, causing panic among many investors.

However, in reality, no action was taken. A search on Arkham Intelligence shows that Satoshi's wallet remains frozen, just as it has been for decades. It currently holds approximately 1.1 million Bitcoin, mostly from mining on the blockchain during its early stages. If converted, the creator of BTC has over $80 billion in assets, making him one of the richest people in the world .

Transactions on Satoshi's wallet are primarily deposits. Fans and supporters around the world can proactively transfer BTC to it and leave an indelible mark on the blockchain.

On February 2nd, Bitcoin was trading around $76,000 . The world's largest cryptocurrency lost its $80,000 support level. It also fell in line with gold as the financial markets experienced significant volatility recently.

Compared to its peak set 4 months ago, BTC has fallen by nearly 40%. The market capitalization of the world's largest cryptocurrency is currently around $1.5 trillion , with 18 million coins having been mined.

Source: https://znews.vn/cha-de-bitcoin-vua-bai-10000-btc-post1624743.html