Before 2010, this wallet only got coins in the early days of Bitcoin, and it has now moved 2,000 BTC for the first time since 2010
The so-called “Satoshi-era wallets” moved the BTC worth almost $180 million to the U.S.-based cryptocurrency market Coinbase on November 15.
Lookonchain says that on-chain data shows that the whale walked for 14 years. That means the miner held on from when the price of Bitcoin was close to 10 cents. Because bitcoins are being used so quickly, the coins created when Satoshi Nakamoto, the creator of Bitcoin, was still online are worth almost $90,000.
Recently, there has been a lot of movement of coins from the Satoshi era. When these coins go to platforms, it’s usually a sign to sell. But these old coins have been moving around before, especially during rising markets, so the market as a whole isn’t too worried.
In September, a bank that hadn’t been used in over 15 years woke up and moved 250 BTC that had been mined in 2009. In August, 174 bitcoins worth more than $10 million were moved from a Bitcoin wallet that hadn’t been used since 2014.
May 2024 was important because a dormant whale made one of its biggest moves. A wallet that hadn’t been used in 11 years moved 1,000 bitcoins, worth more than $60 million.
While these amounts are small compared to the 2,000 BTC that a whale from the early days just moved, they all show what it means to “hold.”
Millions of bitcoins are thought to be lost forever, whether on purpose or by chance. These Satoshi-era miner wallets also show how far Bitcoin has come. In the short term, making such large deposits on platforms may affect the value of the most important cryptocurrency.
Bulls are now in charge, though, and news like a possible U.S. strategic Bitcoin reserve makes experts say the next goal for BTC is $100,000. In the long term, look at ETFs, a global “crypto race” in which more countries adopt the most important digital assets and plans like MicroStrategy’s $42 billion BTC purchase goal. All of these are signs of growth.
