What Are Satoshi-Era Bitcoins and Why Are They Moving?

June 2, 2020, by Maayan
Bitcoin addresses dating back to 2009 are beginning to move their Bitcoin. Who’s behind it?

What Are Satoshi-Era Bitcoins?

In recent weeks, several of the earliest Bitcoin addresses have come back to life after more than a decade of inactivity.

Who is behind those addresses?

Not Satoshi Nakamoto

On May 2020, an address containing 50 BTC began to cash out its balance, made up of mining rewards first earned in 2009.

Some speculate that Satoshi Nakamoto, the pseudonymous creator of Bitcoin, owns that address.

That’s because the address contains BTC that was mined just months after the launch of Bitcoin―a time when Nakamoto would have been one of several dozen people actively mining Bitcoin.

However, the address does not display patterns that Nakamoto’s activity usually shows, so he is probably not the owner.

Not Craig Wright

On May 25, a Bitcoin user who owns 147 early Bitcoin addresses signed a message denouncing Bitcoin SV leader Craig Wright, who dubiously claims to be Satoshi Nakamoto.

The message proves that Wright is not the owner of those 147 addresses, since the poster signed the message with his Bitcoin keys.

These addresses may or may not belong to the miner who moved funds last week. Nevertheless, the message proves that Wright does not own some of the Satoshi-era addresses that he claims to own.

Who Owns the Bitcoin?

It is unlikely that the true owner of these accounts will ever reveal his identity to the public.

Nor would it make much of a difference if he did. Even though the miner seems to have a huge Bitcoin balance, large Bitcoin transactions happen on a regular basis and are not out of the ordinary.

Furthermore, many early Bitcoin personalities are influential and have been known to the public for years.

A single wealthy miner isn’t necessarily notable in his own right.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.