From 0 to $63k: Satoshi-era wallet moves $16m worth of BTC mined in 2009

In a rare occurrence, a dormant wallet, untouched since 2009, has stirred with activity, transferring 250 BTC. This event offers a glimpse into the actions of a whale from the genesis days of Bitcoin mining on desktop computers.

The term "Satoshi era" refers to the period from 2009 to 2011, when Bitcoin's anonymous creator, Satoshi Nakamoto, actively participated in online forums. During this time, Bitcoin remained largely unknown in mainstream media and had yet to evolve into the traded assets we see today.

Fast forward to September 2024: Whale Alerts, an on-chain tracker, flagged the movement of 250 BTC, worth approximately $16 million, from a wallet that had lain dormant for 15 years. This provides a rare insight into the actions of an early Bitcoin holder.

The transfer occurred in the form of five separate transactions, each involving 50 BTC, sent to newly created addresses. According to on-chain data, these BTC were mined as block rewards during Bitcoin's initial release.

While Satoshi era transfers have become increasingly uncommon, they are not entirely unexpected. In June 2024, a wallet inactive for 14 years transferred $3 million in BTC to Binance. Curiously, in January 2024, an individual sent over $1 million in BTC back to the null address associated with Bitcoin's founder.