Early Miner Moves 1,000 Rare Satoshi Era Bitcoins Worth $40 Million
Over 1,000 rare 'Satoshi Era' bitcoins, worth $40 million, moved after 13 years, sparking interest in the crypto market's future.
Rare bitcoins from the “Satoshi Era” moved this week. Over 1,000 bitcoins, mined between August and November 2010, have moved for the first time in 13 years. These early mined bitcoins, originally worth $100, are now valued at over $40 million.
The bitcoins were moved to address 35BRV3y2tEJNCHbmVtAe3kXNckYgu8X7av and then distributed to various addresses. They were consolidated at address 1CzBL1pEudgqeTtoyPLtrVQHo7nYAZxmKZ, holding 1,028 bitcoins.
CryptoQuant suggests these bitcoins were likely sold via an over-the-counter (OTC) or custodian service, based on the receiving address's transaction patterns.
In 2023, several dormant wallets from this era became active. In July, a wallet that held about $30 million worth of Bitcoin came alive, followed by another in August transferring 1,005 BTC.
The recent and ongoing price surge is said to be due to expectations of a U.S. spot exchange-traded fund (ETF), anticipated rate cuts in the U.S., and growing interest from bitcoin-friendly leaders in major economies.
