On-chain data shows Bitcoin dormant since 15.3 years ago has just been moved. Here’s whether the transactions are related to BTC’s creator.
Below are the details related to one of the moves.
As is visible, this transaction involved three miner wallets who each had 50 BTC. When these wallets mined the coins, they were worth around $0.01 each, meaning that each 50 BTC stack was equivalent to just $0.5. Today, its value has grown to a whopping $5.9 million.
The other transfer was also quite similar, except it involved two wallets instead of three, with both once again moving the 50 BTC that they mined 15.3 years ago. Given the similarity and the simultaneous execution, the same entity is likely behind the moves. That said, the receiving wallet has been different between the two transactions.
Satoshi started mining at the network’s genesis and their activity has partially been reconstructed from patterns found in blockchain data. “According to our research the two 50 BTC dormant address transactions earlier today were mined at the end of the period during which Satoshi was active (until around block 54,316),” explains Whale Alert.
So, were the mining wallets involved in the latest two transactions associated in any way to BTC’s creator? According to the analytics firm, the answer seems to be no: “it is very unlikely the blocks were mined by Satoshi.”
Bitcoin has so far shown no signs of its consolidation phase ending as its price is still trading around the $118,500 mark, which is similar to where it was at a couple of weeks ago.
Here is a chart that shows how the cryptocurrency’s performance has looked over the past month:
