$ 11 million of Satoshi-era Bitcoin just moved

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In the letter

  • 1000 Bitcoin have just moved for the first time since 2010.
  • Bitcoin, worth over $ 11 million, was reportedly mined while Satoshi Nakamoto was still active in the crypto community.
  • It is not known who owns the Bitcoin or why it was moved.

Someone transferred over $ 11 million worth of Bitcoin that has been dormant in their wallets since they were mined in 2010.

The 1,000 Bitcoins, with a current value of $ 11,425,000, were transferred to a single address. The move was reported by Kirill K, a professional cryptocurrency trader, on LinkedIn.

Bitcoin was mined in September 2010, when Bitcoin was less than two years old and worth less than 10 cents per coin. At the time, cryptocurrency was virtually unheard of and very cheap to mine – aAll Bitcoins moved today were worth less than $ 100 in 2010.

The mysterious holder of the “Satoshi Era” coins would make an insane lottery profit if he sold the coins today.

Bitcoin’s “Satoshi Era” refers to coins mined when Bitcoin’s pseudonymous creator Satoshi Nakamoto was still communicating with the crypto world. No one has heard of Nakamoto since 2010 and his identity is still a complete mystery. Some believe – perhaps wrongly – that whoever moved the pieces must have been part of Nakamotos’ inner circle.

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But why would anyone move this Bitcoin now? Head of quantitative strategy at crypto firm Ikigai Asset Management, Hans Hauge, wrote on LinkedIn that “ex-miners need to be careful about how they move so as not to scare the market. ”

But he added that $ 11 million wouldn’t “really move the needle back and forth” when billions of Bitcoins are moving through wallets every day.

Warning

The opinions and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.

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