Three Bitcoin whale addresses dating back to the Satoshi era, which has remained dormant since November 2017, have come back to life and transferred a total of 6,500 BTC, valued at approximately $230 million, on November 2. Satoshi-era BTC refers to the very early stages of the Bitcoin network when it was still relatively unknown.
Here’s the breakdown of the transfers:
- The first wallet moved 2,550 BTC, estimated to be worth $90 million.
- A second address transferred around 2,000 BTC worth $71 million.
- The third address moved around 1,950 BTC worth $69 million.
All three wallets had been dormant for almost six years, with their last transactions recorded on November 5, 2017. These wallets remained inactive during the Bitcoin bull run and the period when the cryptocurrency reached an all-time high of over $69,000.
Most of the Bitcoin in these three whale wallets dates back to July 2011 and is associated with F2Pool, a Bitcoin mining pool, suggesting that they may have been accumulated through early Bitcoin mining. The wallets have held BTC since the cryptocurrency was trading under $15.
While it’s not confirmed whether all three wallets belong to the same individual or entity, the wallet history and transaction patterns suggest this possibility. This movement of Bitcoin whale addresses containing Bitcoin from the 2011 era coincided with BTC reaching a new yearly high above $35,000.
2023 has seen several Bitcoin whales and addresses that are more than 10 years old reactivating and transferring BTC to new addresses. In July, a wallet dormant for 11 years transferred $30 million in BTC, and in August, a Satoshi-era wallet moved 1,005 BTC to a new address.