Satoshi-Era Bitcoin Wallet Awakens After 15 Years

Source: CryptoNewsNet Original Title: Satoshi-Era Bitcoin Wallet Awakens After 15 Years Original Link: According to data provided by Onchain Lens, another Satoshi-era wallet recently sprang back to life.

The wallet in question moved 50 BTC (around $4.33 million at the time) into five new wallets. The transactions came after roughly 15 years of dormancy.

It is considered a “Satoshi-era” wallet because it was first active in the very early days of Bitcoin.

Why Move Coins?

Whales may decide to gradually sell coins due to significant price appreciation. In fact, OG whales offloading their holdings has frequently been cited as one of the key reasons behind ongoing price corrections.

They might also move coins due to other factors such as consolidation, security, testing, or obfuscation.

Rarity of Satoshi-Era Wallets

It should be noted that Satoshi-era wallets are extremely rare. Estimates vary, but there are believed to be only a few hundred wallets that were active in 2009-2010 with significant BTC holdings.

Bitcoin in 2010

The wallet was activated on March 18, 2010. Back then, Bitcoin had been live for just over a year (launched January 3, 2009). The software was still very experimental and maintained by a small group of developers, including Satoshi himself. The concept of cryptocurrency was almost entirely unknown to the general public.

The Bitcoin community consisted of only a few dozen to a few hundred active participants worldwide. The first recorded real-world transaction (buying pizza for 10,000 BTC) happened only in May 2010.

Mining was done primarily on personal computers. From Genesis (2009) until late 2012, the block reward was 50 BTC per block. Hence, the coins that have just been transferred were certainly received from mining a block.