Massive ‘Satoshi Era’ Transfers See Eight Wallets Moving 80,000 Bitcoin

Historic $8 Billion in Bitcoin Moves From Dormant ‘Satoshi Era’ Wallets in Unprecedented Transfer

Over $8 billion worth of bitcoin mined during the network’s earliest days—the so-called “Satoshi era”—was shifted on Friday in what is believed to be the largest-ever transfer of coins from that time.

These bitcoins come from one of the rarest groups of assets in crypto: coins mined or transacted between 2009 and 2011, when bitcoin’s enigmatic creator, Satoshi Nakamoto, was still publicly active.

Data reviewed by CoinDesk shows that two wallets, untouched for more than 14 years, each transferred 10,000 BTC to new addresses early on Friday. Those coins were initially received on April 3, 2011, when bitcoin’s price hovered around $0.78.

At today’s value, each wallet’s holdings exceed $1.1 billion, representing a jaw-dropping increase of over 13.9 million percent since acquisition.

The bitcoins originated from a wallet labeled “1HqXB…gDwcK,” which had distributed 23,377.83 BTC to three different addresses back in 2011. Two of these addresses—“12tLs…xj2me” and “1KbrS…AWJYm”—held most of the coins until this week, while the third wallet, which had 3,377 BTC, spent its funds later that same year.

Later on Friday, blockchain analytics firm Arkham discovered that six additional wallets also moved more than 10,000 BTC in quick succession. Altogether, those transactions represent over $8.6 billion at current prices.

Arkham’s research suggests that a single entity may be behind all eight wallets involved in the transfers. As of early Saturday in Asia, however, no individual or group has publicly claimed ownership of the funds.

The recently transferred bitcoins were sent to new wallets using updated, lower-fee address formats. None of the new wallets has moved the funds further, leaving the identity of the owner—and their intentions—shrouded in mystery.

Bitcoin wallets dating back to the Satoshi era are considered among the most prized assets in crypto. They rarely show activity and are watched closely by traders, since significant sales from these wallets could signal that early adopters are shifting their views on the market.