Satoshi-Era Bitcoin Wallet Makes Another Major Move, Binance Adds Two Hot New Pairs for Major Coins, Investing $1,000 in BTC 14 Years Ago Would Have Brought Massive Fortune: Crypto News Digest by U.Today
2024-10-16

Here are the top three news stories over the past day presented to you by U.Today.
Satoshi-era Bitcoin wallet makes another major move
Data provided by Arkham Intelligence shows that on Monday, Oct. 14, an ancient Bitcoin whale, who mined their BTC just a month after the very first Bitcoin block was created on Jan. 13, 2009, moved $630,000 worth of BTC to the Kraken exchange. Interestingly, in the past two months, this address has transferred nearly $5.5 million in Bitcoin and still holds $75.23 million. The previous transfer made by the whale took place on Oct. 7 and was of roughly the same size. Since very few people knew about Bitcoin in the first month of its existence, the transfer could possibly be related to Satoshi. However, this is unlikely to be the case. These transactions occur amid active speculation about the real identity of Satoshi Nakamoto; as a reminder, HBO recently released a documentary, in which prominent Bitcoin developer Peter Todd was identified as Satoshi. 
Binance adds two hot new pairs for major coins
According to a recent announcement by Binance, it has listed two new trading pairs for popular tokens: the Sui Network token (SUI) and the meme cryptocurrency Turbo (TURBO). The SUI token is paired with the Brazilian real, which could enhance its growth on Brazil's strong crypto market. TURBO, in turn, is paired with the Turkish lira, potentially boosting its momentum in Turkey, given the large number of crypto market participants in the country. The tokens are considered hot at the moment, as SUI has surged 140% since early September, entering the top 20 cryptocurrencies, while TURBO saw growth of more than 30% over the previous day. The exchange opened trading for two trading pairs on Binance Spot today, Oct. 16, at 8:00 a.m. (UTC). 
Investing just $1,000 in Bitcoin 14 years ago would have resulted in massive fortune
Fourteen years ago, a user on the Bitcointalk forum asked if it was safe to invest $1,000 in Bitcoin, which was then valued at just $0.10. According to estimations by Pete Rizzo, a prominent Bitcoin historian, such an investment could have yielded a $600 million return today. At first, Bitcoin was valued according to the electricity required for mining, making its price very low. Early adopters were able to mine it on their personal computers and earn block rewards of 50 BTC. Bitcoin began seeing significant speculative interest in 2011, reaching $1 in February and nearly $30 by June, due to increased media coverage. Finally, Bitcoin gained mainstream recognition in 2017 and was recognized as the best asset of the 2010s. Today, many experts, including MicroStrategy CEO Michael Saylor, believe that BTC still has substantial growth potential.