Satoshi Era Bitcoin Miner Transfers $3M to Binance After 14 Years

After 14 years, a dormant “Satoshi era” Bitcoin miner address sprang to life and sent almost $3 million worth of BTC to Binance—an uncommon occurrence in the world of cryptocurrencies.

One significant transaction from the “Satoshi era” was an early Bitcoin miner moving 50 BTC, or $3.05 million. The address 1PDTD was found using Lookonchain data. The monies were sent to Binance on June 27 by m3Jcm. In July 2010, not even a few months after Bitcoin’s debut, this miner first purchased 50 Bitcoin.

In the context of Bitcoin, the phrase “Satoshi era” describes addresses that were active in the network throughout its early stages, namely from 2009, when Satoshi Nakamoto created it, to 2011, when Nakamoto vanished for unknown reasons.

Reviving Dormant Addresses

This event isn’t the first instance of old Bitcoin wallets reactivating. Several “Satoshi era” addresses have shown activity since early 2023. In July last year, a wallet dormant for 11 years moved $30 million worth of Bitcoin to other wallets. A month later, another wallet transferred 1,005 BTC to a new address.

Moreover, in March 2024, another long-inactive miner moved funds after 14 years, with a portion of the transaction ending up at the crypto exchange Coinbase.

These transactions highlight the enduring relevance and potential activity of early Bitcoin addresses. As these dormant wallets awaken, they provide a glimpse into the history of Bitcoin and its early adopters. Additionally, such movements can impact the cryptocurrency market, drawing attention from traders and analysts.

Overall, the reactivation of these addresses underscores the lasting legacy of Bitcoin’s early days and the continued influence of its earliest participants.