A significant amount of Bitcoin’s (BTC) total supply has not moved for more than 10 years, according to data from cryptocurrency analytics data provider Glassnode.
During this decade-long interim, 1.8 million Bitcoin (of the current 18.5 million supply) has been locked in dormant Bitcoin addresses. Its cumulative value amounts to more than $23 billion at the time of publication, according to data from Coin360.
A large portion of these coins may belong to Bitcoin’s mysterious creator, Satoshi Nakamoto — who disappeared from the community in 2011. Nakamoto may own over 1 million of these as-yet untouched assets, which are purported to be lost forever.
Despite the large number in stagnation, some previously uncirculated Bitcoin began to move for the first time in May. One wallet containing coins from February 2009 suddenly sent 50 BTC to two different addresses without warning or explanation. People in the blockchain community subsequently suggested three main scenarios: These coins may have belonged to the family of late cryptographer Hal Finney, early developer Martti Malmi or possibly Satoshi Nakamoto themself. This speculation was largely denied by the parties in question, except for Nakamoto, who remains elusive.