In a freakin’ rare event, over $16 million worth of Bitcoin was suddenly moved after 15 years of inactivity.
This stack was mined in the earliest days of the network, and the question just surfaced, Satoshi is back?
Dormant Bitcoin is a very interesting Bitcoin
Several Bitcoin wallets containing coins from the “Satoshi era” became active on the end of the week, transferring over 250 BTC.
This era refers to the early days of Bitcoin, between 2009 and 2011, when Bitcoin’s anonymous creator, Satoshi Nakamoto, was still involved with the network.
These wallets, which have been untouched since 2009, each transferred 50 BTC to new addresses, totaling around $16 million based on current prices.
Interestingly, it’s unclear if these wallets are all controlled by the same person or organization.
For now, the newly activated Bitcoin remains in fresh wallets, with no transfers to any crypto exchanges where they could be sold.
Why a movement like this is a big deal?
These Bitcoin were mined back in 2009, just months after the network’s launch, and hadn’t shown any activity until this quite unexpected movement.
This event is particularly interesting because Bitcoin from this era is rarely moved, and when it does, it draws attention due to its connection to the earliest days of the cryptocurrency, and possibly to the creator, Satoshi.
On the other hand, it’s very, very unlikely these transfers belong to Satoshi. He’s gone, and chances are high he will remain anonymous forever, with his coins untouched.
The fact that these Bitcoin are being moved raises many questions, especially given the value attached to assets.
Some speculate it could be an early miner choosing to liquidate or reallocate funds. Others wonder if there are more movements of dormant Bitcoin to come, potentially signaling major market activity.
For now, it’s too early to say anything, but the lack of movement to exchanges suggests the coins aren’t being sold off just yet.
These are the true OGs, and no one knows who are they
This isn’t the first time Bitcoin from the early days of the network has been moved in the past years. In July 2023, a wallet dormant for 11 years suddenly transferred $30 million worth of Bitcoin, causing big buzz in the crypto community.
In August 2023, another wallet holding 1,005 BTC was also activated. Even more imporant was an event in December last year, when over 1,000 BTC were sent to crypto exchanges, where it is likely they were sold.
These random movements keep the crypto community guessing and add an element of mystery to Bitcoin’s history.
Have you read it yet? DOGE, Baby Doge, JASMY gains are on the horizon in October?
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