First Satoshi-era Bitcoin wallet moves 2,000 BTC since 2010

Satoshi-era wallets, Bitcoin wallet transferred around $180 million in Bitcoin to Coinbase, a U.S.-based cryptocurrency exchange, on November 15. Lookonchain claims that the whale was handled for 14 years based on on-chain data. In other words, the miner hung on when the price of Bitcoin was falling below 10 cents. The coins that were created when Satoshi Nakamoto, the founder of Bitcoin, was still active online are now valued at around $90,000 each due to their quick adoption.

The movement of Satoshi-era coins has increased recently, and their transfer to exchanges is frequently seen as a selling signal for Bitcoin. However, the market as a whole is mainly unaffected because such ancient coins have previously been in demand, especially during bull markets.

A wallet that had been inactive for more than 15 years abruptly awoke in September and transferred 250 Bitcoins that had been mined in 2009. Earlier in August, 174 bitcoins valued at more than $10 million were transferred from a dormant 2014 wallet.

Notably, in May 2024, one of the biggest moves by a dormant whale address occurred. After 11 years of inactivity, a wallet abruptly transferred 1,000 bitcoins, which at the time were valued at over $60 million. All of these numbers demonstrate what holding entails, even if they are little compared to the enormous 2,000 BTC a whale from those early days recently moved.

These Satoshi-era miner wallets also demonstrate how far Bitcoin has progressed, whether intentionally or unintentionally—millions of bitcoins are considered gone forever. The value of the benchmark cryptocurrency asset may be impacted in the short term by such large deposits on exchanges.

The next aim for Bitcoin, according to experts, is $100k since bulls are in control and because of developments like the probable strategic U.S. Bitcoin reserve. Plans like MicroStrategy's $42 billion BTC purchase objective, spot ETFs, and a worldwide "crypto race" in which more nation governments embrace the flagship digital currency are all optimistic in the long run.