Satoshi Era Bitcoin Wallet Awakens, Moves 50 BTC to Binance
A Satoshi era bitcoin wallet address, dormant for 14 years, reportedly transferred 50 BTC (approximately $3.05 million) to the Binance exchange on June 27.
The wallet is believed to belong to a Bitcoin miner who likely earned the 50 BTC as mining rewards in 2010.
On-chain analytics firm Lookonchain revealed the Bitcoin wallet’s origins. It’s linked to a miner who received 50 BTC as a mining reward on July 14, 2010, just months after the Bitcoin network launched.
A miner wallet woke up after being dormant for 14 years and deposited 50 $BTC($3.05M) to #Binance 7 hours ago.
The miner earned 50 $BTC from mining on July 14, 2010.
Address:
1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm pic.twitter.com/toKmBfbUne
— Lookonchain (@lookonchain) June 27, 2024
Back in 2010, one BTC was valued at a mere $0.003. This price wasn’t surpassed until February 2011, reaching $30 by June of that year.
Today, Bitcoin stands at $61,110, reflecting a 16.99% decrease from its mid-March 2024 all-time high of over $73,750.
Created during Bitcoin’s infancy (2009-2011), Satoshi bitcoin wallets hold historical significance.
This period marked the time when Bitcoin’s enigmatic creator, Satoshi Nakamoto, was still an active presence in the cryptocurrency community.
The wallets’ historical value, coupled with the limited transactions during that era, makes any movement of funds from them a notable event.
Satoshi Bitcoin wallets were created during Bitcoin’s early years, specifically between 2009 and 2011, when its pseudonymous creator, Satoshi Nakamoto, was still active in the cryptocurrency community.
These wallets are considered important due to their historical value and the relatively small number of transactions during that period, making any movement of funds from them
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