Satoshi-Era Bitcoins Move After 16 Years of Dormancy

A significant movement of Satoshi-era Bitcoin has occurred after over 16 years of dormancy. Approximately 600 BTC, valued at around $48 million, transferred from dormant addresses on Saturday. According to onchain data reviewed by Cointelegraph, the activity is linked to block rewards mined in March 2010.

Whale Alert, a blockchain sleuthing company, analyzed the movement and found no connection between these specific mining blocks and Satoshi Nakamoto. The company's research expanded from earlier work covering seven of the rewards to all 12 relevant mining blocks.

The transfers originate from Bitcoin blocks mined in March 2010, when each block paid a 50 BTC subsidy. Over time, this subsidy has been reduced through Bitcoin's scheduled halving process, with the most recent reduction occurring in April 2024.