Satoshi

Bitcoin

<div class="sg-post-des">
 Over the course of 2023, several Satoshi-era Bitcoin wallets have risen from dormancy to transfer their BTC to a new address.
</div>
<div class="cointelegraph">
 Three Satoshi Era Bitcoin (BTC) whale addresses that have been dormant since November 2017 <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red 6,500 BTC, estimated to be worth $230 million, on Nov. 2. Satoshi Era BTC refers to the very early stage of Bitcoin network when it was still relatively unknown.
 According to data from Bitinfocharts, the first <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> moved 2,550 BTC, estimated to be worth $90 million. A second address moved around 2,000 BTC worth $71 million, and the third address <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red around 1,950 BTC worth $69 million.
 All three <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> had another thing in common, i.e., the last transaction from all three <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> came on Nov. 5, 2017, nearly six years ago. Thus, these <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> slept through the Bitcoin bull run and the all-time high of over $69,000. Most of the Bitcoin in the three whale <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> dates back to July 2011 and is linked to F2Pool, a Bitcoin mining pool, suggesting it may have been accumulated via the mining process during the very early phase of the Bitcoin. This means the three <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> would have been holding BTC when it was trading under $15.
 Related: 100%+ BTC price gains? Bitcoin faces ‘massively overvalued’ stocks
 It's not confirmed whether all three <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> belong to the same individual or entity, though the <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> history, along with its transaction patterns, suggests that could be the potential case. The recent movement of Bitcoin whale addresses containing BTC from the 2011 era comes just days after BTC price touched a new yearly high above $35,000.
 2023 has seen a number of Bitcoin whales and addresses more than ten years old, rising from dormancy, transferring BTC from 2010s to new addresses. Earlier in July, a wallet dormant for 11 years transferred $30M in BTC; a month later, in August, a Saotshi-era wallet transferred 1005 BTC to a new address.
 Magazine: The value of a legacy: Hunting down Satoshi’s Bitcoin
 <template data-name="subscription_form" data-type="defi_newsletter"></template>
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/3-satoshi-era-bitcoin-wallets-transfer-230m-in-btc-after-6-year-dormancy-tbt68813.html">https://thebittimes.com/3-satoshi-era-bitcoin-wallets-transfer-230m-in-btc-after-6-year-dormancy-tbt68813.html</a>

3 Satoshi Era Bitcoin wallets transfer $230M in BTC after 6-year dormancy

TheBitTimes

Other articles published on Nov 2, 2023

Europe’s Bitcoin miner secures €575m debt financing from Tether

Ripple News: The Truth About XRP Burns, Expert Debunks Price Impact Myths

Dubai’s VARA grants WadzPay ‘initial approval’ paving the way for crypto expansion

Bitcoin and Ethereum outperform traditional assets in 2023

Bitcoin Whales from Satoshi-Era emerge: $230M in BTC transferred after 6 years of silence

This Crypto Tycoon Predicted 'SafeMoon is a Scam' in 2021

Join our free newsletter for daily crypto updates!