Satoshi-Era Bitcoin Mining Wallets Move After 16 Years

Seven Satoshi-era Bitcoin mining wallets have become active again after about 16.5 years of inactivity, moving a total of 350 Bitcoins. According to blockchain outlet U.Today, the holdings were worth around $28 million at current prices.

The transferred coins were created as mining rewards in March 2010, just less than 15 months after the Bitcoin network launched in January 2009. At that time, the Bitcoin block reward was 50 Bitcoins.

Each of the seven wallets had held the reward from seven early mining blocks. The transfer is significant not for its size but for the coins' origin. With Bitcoin rebounding to around $80,000 recently, the value of each 50 Bitcoins is now about $4 million.