Someone, Not Satoshi, Moves 50 Bitcoin Minted in 2009, Last Time Happened in August 2017

BTC Price Dropped Over 4% in the hour following the move after crypto Twitter erupts with theories

50 BTC were moved from a wallet today.

Well, that’s not the big news but the fact that these are among the original coins and were stored in a wallet that has been dormant since 2009 is what got the crypto community’s attention.

These coins were mined on block 3654, just one month into bitcoin’s creation, on February 9, 2009.

40 of these coins amounting to $391,055 were sent to one address and 9.99 are being separated into small pieces to be sent to other addresses.

The last time an account moved decade old coins was during the last bull run, in August 2017.

Some speculated that this wallet belongs to the pseudo-anonymous bitcoin creator Satoshi Nakamoto.

This speculation led the BTC price to take a dive from $9,800 to $9,100. But now, the price is now recovering and is currently trading at $9,500.

“You trying to buy cheap coins or something?” responded Jameson Lopp, co-founder and CTO of Casa to Twitter user Bitcoin who speculated about the wallet belonging to Satoshi. This twitter account has 1 million users.

However, despite Satoshi speculation, the price dropped by only about 7%.

“It does nudge me towards thinking if Satoshi coins ever DID move, it would be short-medium term bearish for the price,” said Brad Mills.

Early non-Satoshi mined coins being moved isn’t particularly a surprise either, they are “periodically awakened, just not frequently,” noted Nic Carter, co-founder of Coin Metrics. He further explained that,

“it's basically impossible to prove that Satoshi _didn't_ mine these coins, but the best research we have suggests that Satoshi mined a specific set of blocks, of which this is not one.”

These are blocks that are believed to be mined by a single big early miner with more than 1 million BTC. Carter added,

“There's actually a lot more debate about the Satoshi coins than people are generally aware of. The way it's reported in the press, you'd think there was a single gigantic wallet ascribed to Satoshi. In practice there's significantly more uncertainty over the addresses.”

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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