Someone just moved 50 Satoshi-era Bitcoins, today worth $527,120, to the hot wallet of cryptocurrencycryptocurrency exchange Bitfinex.
The 50 BitcoinBitcoin was mined back in May 2010, when Bitcoin was around one-and-a-half years old. The owner has held onto those coins ever since and waited until last night to move them to the cryptocurrency exchange. The move was picked up by BTCparser, a Telegram bot that trawls through Bitcoin transactions.
If the owner of those 50 Bitcoins sold the entire stash on Bitfinex, they would have made half a million dollars of pure profit. Back in 2010, Bitcoin wasn’t worth anything and, due to its obscurity, was very cheap and easy to mine.
The coins are known as “Satoshi-era” coins because they were mined around the time that Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was still knocking around on Bitcoin forums and taking part in Bitcoin’s development. Nakamoto was last active on his regular haunt, Bitcointalk, on December 13, 2010.
A Bitcoin wallet containing 50 Bitcoin mined in the Satoshi-era reanimated yesterday. While the majority remains unspent, a portion has already been cashed out.
The Bitcoin in question, first mined in February 2009, was split into two separate addresses—the first containing 40 Bitcoins and the second harboring the remaining 9.99 coins. According to Rishav Rai, lead investigator at blockchain analytic firm Merkle Science, only 7.38 Bitcoin has been liquidated.
"We have identified that a substant...
Some people think that since Bitcoin wasn’t very popular, that Bitcoins from this era were mined by Satoshi himself, or close associates.
50 BTC from Feb 2009 is moving.
That's just one month after first bitcoin block was mined. There is not a lot of people who can do this, perhaps close associates of Satoshi.
My question is why, not who, is sending 50 BTC for the first time in more than 10 years.
— USD is a 🆂🅷🅸🆃🅲🅾🅸🅽 🇧🇷 (@noshitcoins) May 20, 2020
Some link the transfers to price movements. This is good for Bitcoin, apparently, because it means that the crypto OG thinks that a bull run is on the move. In May, Bitcoin fell by 7% following the move. Since the coins moved last night, Bitcoin only fell by 2%, from 10,642 to 10,410.
Yes 50 very old $btc just moved. As has happened 4 times in the past from the same time.
IF they are selling, take comfort knowing they have a habit of selling before huge pumps😅
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