Press "Enter" to skip to content

Wallet holder moves 1,000 Bitcoin from the Satoshi era

Cryptocurrency

1,000 bitcoins from the Satoshi era were recently traded on the Bitcoin network for the first time since they were extracted in 2010

Bitcoins were extracted in the Satoshi era, when Satoshi Nakamoto was still active in the Bitcoin community.

At the current price of Bitcoin, the coins are worth about $ 11.4 million. The bitcoins were moved to a single address – a transfer that was considered unusual by the cryptocurrency that shared the details on LinkedIn.

It is not yet clear why a user would move more than $ 11 million in Bitcoins that have been in the wallet since the last decade. The 1,000 bitcoins were withdrawn in September 2010, when the virtual currency was less than two years old.

At that time, the price of a single bitcoin was below 10 cents. This means that if the 1,000 bitcoin had been moved, they would be worth less than $ 100.

Several users in the crypto community have created theories about this unusual transaction. Some claim that the user who moved the bitcoin must have been among the people who were part of Nakamoto’s inner circle. The question that still confuses most members of the crypto community is why the holder decided to move Bitcoin at this specific time.

Hans Hauge, executive at Ikigai Asset, a cryptocurrency company, commented on the matter saying: “Old miners have to be careful how they move so as not to scare the market”. He added that 1,000 bitcoins ($ 11.4 million) would not “make a difference in any direction”In disrupting an ecosystem that sees billions of bitcoins moving daily.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.