Old Bitcoin Wallets Move 600 Coins After 16 Years
600 BTC mined in 2010 wakes up
A group of Bitcoin wallets that have been inactive for 16 years moved 600 coins this weekend. The transaction has drawn attention because the coins were created in March 2010, when Bitcoin was brand new. However, tracking firms have found no evidence that the legendary creator of Bitcoin, Satoshi Nakamoto, is behind the move.
The movement happened on Saturday, September 5, 2026. Data reviewed by Cointelegraph shows that 12 addresses received a total of 600 Bitcoin (BTC) from mining rewards. At the time of the event, that amount was worth about $48 million.
Tracking firm rules out Satoshi connection
Whale Alert, a platform that tracks large blockchain transactions, investigated the source of these coins. They confirmed the Bitcoin came from mining rewards in 12 blocks created in March 2010.
In those early days, miners earned 50 BTC for each block they successfully added to the blockchain. This reward is now much lower due to periodic cuts called halvings, with the most recent reduction happening in April 2024.
A spokesperson for Whale Alert stated clearly that none of these blocks could be linked to Nakamoto. They said their research showed no connection to the Bitcoin creator, dampening speculation that the person or group behind the project had suddenly come back online.
Satoshi-era does not mean Satoshi's coins
The activity sparked debate because the coins date back to a period when Nakamoto was still active in the project. Nakamoto communicated with developers and the public through 2010 before gradually disappearing, with their last known email sent in April 2011.
While the age of the coins is notable, there is a major difference between Bitcoin mined during the Satoshi era and Bitcoin actually owned by Satoshi. Many other miners were active in 2010, and their early coins also remain dormant today.
Lookonchain, another analytics platform, also identified that seven of these miner wallets had moved 350 BTC after 16.5 years. They noted the rewards came from mining in March 2010, consistent with Whale Alert's findings.
Why the movement matters
Any time old Bitcoin moves, it raises questions about market supply. If a large holder of these old coins were to sell, it could increase the amount of Bitcoin available on exchanges.
However, experts note that simply moving coins from an old wallet to a new one is not the same as selling them. One report observed that one reward was moved slightly before the others, suggesting the transaction might have been a test to make sure the owner still had access to the private keys.
What is confirmed
- 600 BTC mined in March 2010 moved after 16 years of dormancy.
- The movement occurred on September 5, 2026.
- Whale Alert found no link between the blocks and Satoshi Nakamoto.
- The value of the moved coins was approximately $48 million at the time of the transfer.
What remains unclear
It is not yet known who controls these wallets or whether the coins will eventually be sold. The identity of the wallet owners has not been publicly confirmed by the tracking firms.
