NFT News Daily Today TheBitTimes.com

Over the course of 2023, several Satoshi-era Bitcoin wallets have risen from dormancy to transfer their BTC to a new address. Three Satoshi Era Bitcoin (BTC) whale addresses that have been dormant since November 2017 transfer red 6,500 BTC, estimated to be worth $230 million, on Nov. 2. Satoshi Era BTC refers to the very early stage of Bitcoin network when it was still relatively unknown. According to data from Bitinfocharts, the first wallet moved 2,550 BTC, estimated to be worth $90 million. A second address moved around 2,000 BTC worth $71 million, and the third address transfer red around 1,950 BTC worth $69 million. All three wallets had another thing in common, i.e., the last transaction from all three wallets came on Nov. 5, 2017, nearly six years ago. Thus, these wallets slept through the Bitcoin bull run and the all-time high of over $69,000. Most of the Bitcoin in the three whale wallets dates back to July 2011 and is linked to F2Pool, a Bitcoin mining pool, suggesting...

Bitcoin’s future price surge and mainstream adoption could happen independently of institutional adoption of the digital currency. The connection between Bitcoin and gold goes back to Bitcoin’s origin. While it is not mentioned in the Bitcoin white paper, Satoshi Nakamoto actually referred to gold’s rarity in a Bitcointalk forum post when introducing the first version of Bitcoin (BTC) in 2009. This was to emphasize the importance of a limited supply of 21 million coins. Bitcoin’s market value is frequently matched up against gold, which boasts a total worth of $12.8 trillion, and many crypto pundits often point to the approval of a gold exchange-traded fund (ETF) in 2004 as the catalyst for the asset’s price appreciation. Currently, Bitcoin encounters resistance at the $30,000 mark, and its inability to surpass this level could lie in how institutional investors perceive the comparison of BTC and gold as stores of value. Bitcoin’s present market cap of $570 billion outshines traditi...