$220 Million Worth of Satoshi-Era Bitcoin Moved in Last 10 Months: Report

Wednesday 27 January 2021, 1:35 PM AEST - 1 month ago


Over $220 million worth of bitcoins have moved from blocks mined during the so-called Satoshi-era, in which the flagship cryptocurrencys pseudonymous creator was still active in the community, over the last 10 months.

The coins have all been moved from previously unspent block rewards from a miner that was active at that time. Satoshi Nakamoto was publicly active in the community up until December 2010, when they mysteriously disappeared.

According to Bitcoin.com, the movements were spotted with the help of several monitoring tools. The dormant BTC block rewards were moved consolidate at an address with 1,000 BTC in it, before being split through several spends to other addresses.

The mysterious miner also spent the BCH airdropped to the addresses at the time of the Bitcoin Cash hard fork, but did not spend the corresponding Bitcoin SV from the time of the Bitcoin Cash hard fork that created BSV.

Bitcoin.com has quoted blockchain research Issak Shvarts as saying some of the funds are now owned by the crypto exchange Coinbase, which would imply the early bitcoin miner is now selling his funds.

Its believed one single entity is behind the movements, as these followed a similar pattern over the last 10 months. CryptoGlobe reported on the Satoshi-era bitcoin movements on more than one occasion as they have been slowly moving.

Another 50 Satoshi-Era Bitcoins Move After Being Dormant for a Decade https://t.co/OuWmJjBCPT #Bitcoin #$BTC

— CryptoGlobe (@CryptoGlobeInfo) October 15, 2020

In total, the entity has moved over 7,000 bitcoins over the last 10 months. While its unclear where most of the funds were moved to, 9.99 BTC, were donated to the Free Software Foundation (FSF), while another 9.,99 went to the American Institute for Economic Resear ...

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