Satoshi's Legendary Bitcoin Stash Reactivates Amid Record Transaction Surge

A recent surge in Bitcoin onchain activity has reignited debate over the identity and whereabouts of Satoshi Nakamoto, the network's creator.

According to a report by Galaxy Research, of the 33,995 unspent 50-BTC outputs from blocks prior to the first halving, approximately 21,922 were mined by Satoshi, equivalent to 1.096 million BTC and representing 64.5% of all unspent early rewards.

This coincided with the reactivation of seven dormant wallets holding 50 BTC each, which remained inactive for 16.5 years before moving on September 5, 2026, according to Whale Alert data.