Twelve Bitcoin addresses from the network’s early era have moved a total of 600 BTC worth approximately $48 million. These assets reactivated after more than 16 years without any movement. Market attention immediately focused on the origin of the coins, all of which were mined in March 2010. That period was a crucial time when Satoshi Nakamoto was still directly leading the development of the network’s core code.
Test Transfer Tactics
The asset transfer process was not carried out all at once. Whale Alert noted that one reward movement preceded the movements from other addresses. One of the twelve wallets had a history of receiving a 50 BTC mining reward on March 5, 2010, and then transferred its entire balance to a new address on September 5, 2026. The single initial transfer aligns with test transaction methods, a cautious standard among miners before the remaining coins are subsequently transferred to new wallets.
This series of legacy coin transfers was tracked in stages by on-chain analytics firms. Lookonchain initially identified seven wallets moving 350 BTC after remaining dormant for 16.5 years. Building upon that initial tracking, the Whale Alert team expanded their analytical radar to 12 independent network blocks. They discovered that all the coins across the dozen addresses originated entirely from Bitcoin blocks mined during the same month in 2010.
Research Rules Out Links to Creator
The mining timeline of the coins falls squarely within the active era of the network’s founder. Satoshi Nakamoto was known to be fully involved in formulating Bitcoin’s structure through 2010, with his last public communication recorded in April 2011. The overlapping timeline initially sparked massive speculation among analysts that the moving vintage coins were tied to the creator.
Tracking data put an end to that initial speculation. Whale Alert confirmed directly to editorial staff that these coins are confirmed to be free of Satoshi’s footprint. “No blocks can be linked to Satoshi based on our research,” a Whale Alert representative said. The dozen dormant wallets belong strictly to independent miners who happened to be securing the network during the same period.
Contrasting Mining Reward Values
The movement of old coins highlights a stark contrast between the past and present state of the network. Every block miner in March 2010 received a full block subsidy of 50 BTC. The main network has since slashed the subsidy amount four consecutive times, with the most recent halving in April 2024 reducing mining rewards to 3.125 BTC per block. These hundreds of legacy coins only moved addresses as the creation of new coins continues to slow down in the market. Reported via Cointelegraph.
Read also: What Is Bitcoin Halving?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
