Bitcoin From Rare ‘Satoshi Era’ Miner Moves After 14 Years of Dormancy

On Monday, the value of the assets, exceeding $3 million, was moved to two separate digital wallets during early hours in Asia. Later on, some portions of these transactions ended up being transferred to the crypto exchange, Coinbase (COIN), as indicated by the analysis provided by Lookonchain in a recent post.

In April 2010, five decades worth of bitcoin were added to the blockchain, having been mined by an individual at that time. This transaction took place approximately eight months following the inception of the network, when the cryptocurrency’s value was minimal.

During that time frame, Satoshi Nakamoto, the anonymous creator of bitcoin, was frequently present on online forums. This era is commonly referred to as the Satoshi period.

Since early 2023, several Bitcoin wallets from the past decade have become active. In July, a previously inactive wallet moved approximately $30 million worth of Bitcoin to other wallets. Meanwhile, in August, yet another old wallet sent 1,005 Bitcoins to a new address.

Around 1,000 bitcoins that had been mined earlier and lay dormant for over 13 years were transferred to exchanges and storage facilities in December for trading or safekeeping.