A Bitcoin miner from 2009 sends BTC to Kraken after over a decade of inactivity, signaling a historic wallet awakening that has captured the attention of the cryptocurrency community.
On Sept. 24, Arkham, a blockchain intelligence firm, identified a Bitcoin whale wallet that mined BTC during February and March 2009. The miner was active during the early stages of Bitcoin’s launch when the cryptocurrency had little to no value. Despite several transactions in its early years, this Satoshi-era wallet remained dormant for almost 10 years until recently.
The latest on-chain data reveals a surprising development. The whale’s wallet has moved five bitcoins to the crypto exchange Kraken.
From Modest Beginnings to Multi-Million Value
Arkham reports that this reactivated wallet still holds 1,215 BTC, worth over $77 million. To put this into perspective, when the whale last moved some coins in 2014, the value of their holdings was around $474k. The ensuing decade has seen a monumental increase in BTC’s price, propelling the value to over $80 million.
Interestingly, this whale has been moderately active over the last three weeks, transferring 10 BTC to Kraken through three separate transactions. These movements occurred amidst a backdrop where Bitcoin creator Satoshi Nakamoto was still mining and participating in the ecosystem. Consequently, transfers involving early-era wallets like these generate significant interest within the BTC community.
Recently, another historic wallet activated, transferring nearly $16 million in BTC after lying dormant for over 15 years. In August 2024, a 2014 vintage wallet moved BTC worth more than $10.2 million, and earlier in June, a Bitcoin wallet inactive since 2010 transferred $3 million in BTC to Binance.
The resurgence of these early Bitcoin wallets has significant implications, shedding light on the untapped potential stored within dormant addresses. With Bitcoin’s historical growth, wallets that were once forgotten now hold immense value.
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