Dormant ‘Satoshi Era’ Bitcoin Worth Over $8 Billion Moves in Largest Recorded Transfer
More than $8 billion in bitcoin originating from the earliest days of the blockchain—known as the “Satoshi era”—was transferred on Friday, marking the biggest movement of such coins ever documented.
These bitcoins belong to a rare group of assets mined or transacted between 2009 and 2011, when bitcoin’s elusive creator, Satoshi Nakamoto, was still publicly active online.
CoinDesk reported that two wallets, untouched for over 14 years, each sent 10,000 BTC to new destinations early Friday. Those coins were initially received on April 3, 2011, when bitcoin was trading for just $0.78.
At today’s prices, each of these wallets now holds bitcoin valued above $1.1 billion—a staggering increase of more than 13.9 million percent since they were first acquired.
These bitcoins originally came from a wallet identified as “1HqXB…gDwcK,” which dispersed 23,377.83 BTC to three addresses in 2011. Two of those wallets—“12tLs…xj2me” and “1KbrS…AWJYm”—held onto most of the funds until this week. The third wallet, which contained 3,377 BTC, spent its coins later in 2011.
Later on Friday, blockchain analysis firm Arkham spotted another six wallets shifting over 10,000 BTC in rapid succession. Altogether, the transfers totaled more than $8.6 billion at current market values.
Arkham’s findings suggest the possibility that one entity might control all eight wallets involved in these substantial movements. However, as of early Saturday in Asia, no individual or group has come forward to claim ownership.
The bitcoin has now been relocated to fresh wallets using modern, lower-fee address formats. So far, none of those new wallets has moved the funds further, leaving the owner’s identity—and their plans—a mystery.
“Satoshi era” wallets are highly coveted in the crypto world due to their rarity and historic significance. They almost never move, and traders monitor them closely, since large sell-offs from these wallets could indicate that early bitcoin miners or holders are shifting their stance on the market.
