As an experienced financial analyst specializing in cryptocurrencies and blockchain technology, I find this recent development quite intriguing. The reactivation of a “Satoshi era” Bitcoin miner address that sent over $3 million worth of BTC to Binance is a rare occurrence.
An address associated with early Bitcoin mining, last active during the Satoshi era, suddenly became operational again after a 14-year long slumber, transferring approximately $3 million in Bitcoin to Binance.
A Bitcoin miner active during Satoshi Nakamoto’s time transferred 50 BTC, equivalent to approximately $3.05 million, to Binance in a scarcely seen transaction as per Lookonchain’s data. The identified address, 1PDTD…m3Jcm, carried out the transfer on June 27th.
The record of transactions on the blockchain shows that a miner acquired 50 Bitcoins for themselves in July 2010 – just a few short months following the inception of the Bitcoin network.
A wallet associated with a bitcoin miner that had been inactive for over a decade suddenly transferred 50 $BTC, equivalent to approximately $3.05 million, to Binance about 7 hours ago.This miner obtained the 50 $BTC through mining back on July 14, 2010.Address: 1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm— Lookonchain (@lookonchain) June 27, 2024
During the Bitcoin network’s formative years, from approximately 2009 to around 2011 when Satoshi Nakamotos’ identity became a mystery, the “Satoshi period” addresses refer to those that were in use.
This is not the first instance of old Bitcoin wallets reactivating. Several addresses from the “Satoshi era” have shown activity since early 2023. In July of last year, a wallet dormant for 11 years transferred $30 million worth of Bitcoin to other wallets. In August, another wallet moved 1,005 BTC to a new address.
As a researcher studying cryptocurrency transactions, I came across an intriguing discovery in March 2024. A previously dormant digital wallet, last active over 14 years ago, initiated a funds transfer. Remarkably, a portion of this transaction reached the prominent crypto exchange, Coinbase.
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2024-06-27 12:24