600 BTC Mined in 2010 Moved After 16 Years of Silence

A significant event occurred in the Bitcoin space on Saturday when 12 addresses holding a combined 600 BTC, worth approximately $48 million, sent their coins for the first time in over 16 years.

The addresses in question were mined in March 2010, when each block paid a 50 BTC subsidy. This reward has since been cut in half four times, most recently falling from 6.25 BTC to 3.125 BTC in April 2024.

Whale Alert, which tracks large onchain transfers, conducted research that ruled out Bitcoin's pseudonymous creator as the source of the coins. According to Whale Alert, none of the blocks can be connected to Satoshi based on their findings.