On-chain data shows Bitcoin dormant since 15.3 years ago has just been moved. Here’s whether the transactions are related to BTC’s creator.
Bitcoin From Satoshi’s Era Has Been Involved In Two Transfers Today
According to data from the cryptocurrency transaction tracker service Whale Alert, two transfers involving super old tokens have been spotted on the Bitcoin blockchain in the past day.
Both of these transactions were executed simultaneously and involved miner wallets that had been dormant since mining on April 26th, 2010, more than 15 years ago.
Below are the details related to one of the moves.
Looks like this transfer needed a fee of $1.18 to go through on the network | Source: Whale Alert
As is visible, this transaction involved three miner wallets who each had 50 BTC. When these wallets mined the coins, they were worth around $0.01 each, meaning that each 50 BTC stack was equivalent to just $0.5. Today, its value has grown to a whopping $5.9 million.
The other transfer was also quite similar, except it involved two wallets instead of three, with both once again moving the 50 BTC that they mined 15.3 years ago. Given the similarity and the simultaneous execution, the same entity is likely behind the moves. That said, the receiving wallet has been different between the two transactions.
The details of the other transfer involving ancient BTC | Source: Whale Alert
Given that these wallets were active in 2010, they would belong to Bitcoin’s earliest miners. One miner that comes to everyone’s mind when thinking of that era is, of course, Satoshi Nakamato, BTC’s pseudonymous creator.
Satoshi started mining at the network’s genesis and their activity has partially been reconstructed from patterns found in blockchain data. “According to our research the two 50 BTC dormant address transactions earlier today were mined at the end of the period during which Satoshi was active (until around block 54,316),” explains Whale Alert.
So, were the mining wallets involved in the latest two transactions associated in any way to BTC’s creator? According to the analytics firm, the answer seems to be no: “it is very unlikely the blocks were mined by Satoshi.”
Whoever was behind the wallets likely lost access to them at some point. Coins that reach a super old age usually only do so by accident, as even the hardest of diamond hands tend to crack eventually. These ancient addresses breaking their silence now were probably only recently rediscovered.
BTC Price
Bitcoin has so far shown no signs of its consolidation phase ending as its price is still trading around the $118,500 mark, which is similar to where it was at a couple of weeks ago.
Here is a chart that shows how the cryptocurrency’s performance has looked over the past month:
The price of the coin appears to have been stuck in sideways movement recently | Source: BTCUSDT on TradingView
Featured image from Dall-E, whale-alert.io, chart from TradingView.com
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