Several Satoshi-era Bitcoin addresses have woken up to move nearly $16 million worth of BTC.
Recently, five Bitcoin addresses, which were created in the first month of the cryptocurrency's existence, have awakened from a long slumber of more than 15 years.
This development, reported by blockchain intelligence platform Arkham Intelligence, has caught the attention of the crypto community, given that these are some of the oldest addresses generated from Bitcoin, right after its launch in January 2009.
In total, the five old BTC addresses transferred 250 BTC, equivalent to about $15,9 million USD, at the time of writing.
The addresses that made these transactions were originally given 50 BTC each as a reward for mining specific blocks in the early days of the blockchain. This unusual move has sparked speculation about the identity of the owner(s) of these cryptocurrencies, with some even suggesting that they could even belong to the creator of Bitcoin himself, Satoshi Nakamoto.
250 BTC from the Satoshi era
The “Satoshi Era” is a term used to describe the period when Satoshi Nakamoto, the pseudonym of the enigmatic creator of Bitcoin, was active and involved in the development of the cryptocurrency and blockchain network.
This period spans from the creation of the blockchain in January 2009, when the genesis block was mined, until approximately 2010, when Nakamoto stopped actively participating in its development. During this time, the first Bitcoin addresses were generated, and the cryptocurrencies mined in this period are considered part of the historical heritage of the protocol.
Regarding the recent movement of these 5 BTC addresses, Arkham reported that they were activated for the first time since their creation, which marks a milestone in the history of Bitcoin.
Bitcoin trades above $63k after movement of old BTC
At the time of writing this article, the price of Bitcoin remains trading at around $63.000 per BTC. The market-leading cryptocurrency surpassed the $60k level after the interest rate cut announced by the US Federal Reserve last Wednesday.
So far, the movement of old cryptocurrencies from Bitcoin has not had a significant impact on the BTC price.
Source: CoinMarketCap
According to Arkham, even though the old bitcoins were moved to new wallets, there are no reports of them being sent to cryptocurrency exchange addresses, suggesting that the holder may not have immediate plans to sell. This behavior is common among early Bitcoin miners, who have often held onto their coins untouched for years, despite price fluctuations in the market.
The fact that these addresses have now woken up, after more than a decade, can also be interpreted as an indication of confidence in the future of Bitcoin, especially considering the significant increase in price it has experienced in recent years. Since its creation, the price of Bitcoin has increased dramatically, going from a few cents to thousands of dollars today.
In addition to these addresses, other Satoshi-era wallets have also started recording activity.
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