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Satoshi Era Bitcoin Whale Moves Coins After Hodling for Over 11 Years

A half-ancient Bitcoin address – created while Satoshi was still active – abruptly spent all of its coins yesterday night.

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Its once 489 Bitcoin balance has been reduced to zero, having been moved elsewhere.

  • The transaction marks the first time the wallet saw any activity since last June and the first time that any coins have ever been spent from the address.
  • The first time the wallet received coins was in October of 2010, when a whopping 489 Bitcoin was sent to the address from a 1000 Bitcoin transaction. Bitcoin was only worth $0.19 at the time, and there was absolutely no transaction fee.
  • The wallet has since received about 24 other mixed transactions over the years, but in incredibly small batches of a few hundred sats at a time. Almost all of its Bitcoin holdings were netted back in 2010.
  • For context, Bitcoin’s pseudonymous creator vanished from the internet back in April of 2011. The address received its Bitcoin before this, and only two months after Bitcoin reversed its blockchain after the catastrophic overflow bug.
  • If the coins were sold for money, that means the Bitcoin involved netted the holder $19,102,328.36 at today’s price.
  • Glassnode data shows that millions of Bitcoin in current circulation last moved at a price below $10,000. Many of these coins are believed to likely either be lost or inaccessible, given that most investors would have sold on the way up.
  • Of course, it’s also possible that this whale never lost his coins, and simply displayed remarkable patience that some Bitcoiners are known for.
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