Satoshi-era Bitcoin wakes after 16 years of dormancy as 600 BTC moves
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Over 16 years after being mined, 600 Bitcoin (BTC) from 12 addresses dormant since March 2010 were moved, reigniting speculation about a Satoshi Nakamoto connection. Whale Alert, a blockchain transaction tracker, confirmed the coins came from mining rewards in early 2010 but found no evidence linking these coins to Nakamoto. The addresses corresponded to blocks mined when the block reward was 50 BTC.
Why it matters
The movement matters because these coins date back to the time when Nakamoto was still active in Bitcoin development, sparking speculation about their origin. However, Whale Alert’s research tempers this by ruling out a connection to the Bitcoin creator, clarifying that early mining activity is not necessarily Nakamoto’s.
Key context
Satoshi Nakamoto was active in Bitcoin development until April 2011. Bitcoin block rewards started at 50 BTC and have been halved periodically, down to 3.125 BTC since April 2024. Whale Alert had previously analyzed seven of the moved rewards before extending their findings to all 12. Lookonchain also identified some of these miner wallets moving coins after extended inactivity.
Key numbers and entities
Whale Alert and Lookonchain are the main analytics platforms referenced. The coins moved total 600 BTC, worth about $48 million as of the report. The moved coins originated from mining rewards in 12 Bitcoin blocks mined in March 2010, when the subsidy was 50 BTC per block. Nakamoto’s last known communication was in April 2011.
What remains unclear
The identity of who moved the 600 BTC remains unknown. The source text does not clarify the reason or destination for these coins after dormancy. There is no information about whether these transactions signal broader market activity or intentions.