50 Bitcoins from the 'Satoshi Era' Move After 14 Years of Inactivity

50 Bitcoins from the 'Satoshi Era' Move After 14 Years of Inactivity Picture 1

According to Lookonchain, more than $3 million worth of BTC holdings were transferred to two wallets yesterday morning. A portion of these transfers were eventually sent to the Coinbase exchange.

Blockchain data shows that the miner received 50 BTC as a computational reward in April 2010, several months after the Bitcoin network first went live and when the coins were only worth a few dollars.

That period is popularly known as the 'Satoshi Era', referring to the months in which Bitcoin's creator, Satoshi Nakamoto, was active on online forums from late 2009 to 2011.

Several Bitcoin wallets from that era have been active since early 2023. In July, a wallet that had been inactive for 11 years transferred $30 million worth of assets to other wallets, while in August, a Another wallet transferred 1,005 BTC to a new wallet.

In December 2023, more than 1,000 Bitcoins from a mining company were first transferred to the exchange after 13 years of inactivity.

David Pac

Update 16 April 2024