A thousand Satoshi-era bitcoins just moved wallets for the first time in a decade

Bitcoin • October 12, 2020, 4:56PM EDT
The Block

One thousand bitcoins that were mined in 2010 were moved yesterday for the first time in a decade.

Kirill K., a cryptocurrency trader, originally flagged this discovery on Linkedin.

The timeline of the transfers is as follows: the Satoshi-era bitcoins were sent to this wallet at 6:14 AM UTC on Oct. 11, 2020. About 40 minutes later, those 1,000 coins were split among 81 different wallets. In a subsequent Linkedin post, Kirill suggested that the latest movement is related to a separate transfer in March that also involved 1,000 bitcoins.

“It's like he's organizing his vault,” wrote Hans Hauge, Head of Quantitative Strategy at Ikigai Asset Management, in a comment under Kirill’s Linkedin post.

While it is unclear who owns the bitcoin or why they moved the assets, these coins would have been worth under $100 in 2010. The bitcoin price at press time was nearly $11,600.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

More by MK Manoylov