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‘Satoshi Era’ Wallets Move $16M in Bitcoin After 15 Years of Dormancy

Sep 19, 2024
    Over 250 BTC from the early days of bitcoin, known as the “Satoshi era,” were transferred on Friday in five separate transactions, each moving 50 BTC to new wallets, with a total value close to $13 million.As of press time, there hasn’t been any movement from the new wallets to crypto exchanges.This movement adds to previous instances where dormant bitcoin from the Satoshi era, including significant transactions in July and December last year.
As a researcher who has been tracking the cryptocurrency market for over a decade now, this recent activity with the “Satoshi era” bitcoins has me both intrigued and excited! It feels like witnessing a piece of history coming alive again. The fact that these coins were mined back in 2009, just months after the network started, adds a unique charm to their movement.On Friday, I moved a significant portion of Bitcoin (BTC) mined during the early stages of the network – these are often referred to as coins from the “Satoshi era”. It’s not every day that we see such coins become active in the market.

The Satoshi Period often signifies the timeframe during which the anonymous inventor of Bitcoin, Satoshi Nakamoto, actively participated in online discussions, starting from late 2009 and continuing until around 2011.

Approximately 250 Bitcoin from that time frame, valued at around $16 million as per current prices, were transferred within an hour during the European morning, according to Whale Alerts’ on-chain tracker. Every transaction involved a set of 50 BTC being shifted to different wallets.

It’s not certain whether these wallets are linked to the same individual or organization. So far, there’s no evidence that funds have been transferred from the newly identified wallets to cryptocurrency exchanges.

As a researcher delving into the realm of cryptocurrencies, I’ve uncovered some fascinating data from the blockchain. The bitcoins in question appear to have been mined as a block reward back in 2009, mere months after the network’s inception. Since then, these wallets have remained dormant, with minimal activity apart from the recent movement observed on Friday.

Over the last several years, bitcoins from the ‘Satoshi era’ have been moving around. In July 2023, a previously inactive wallet (over 11 years old) sent approximately $30 million worth of this digital asset to various other wallets. Similarly, another such wallet moved nearly 1,005 bitcoins to a new address in August.

Last December saw approximately 1,000 BTC transferred to cryptocurrency exchanges, which might have been liquidated, signifying one of the most substantial movements from the Satoshi period into these platforms.

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2024-09-20 11:14