Satoshi-Era Bitcoin Whale Moves $180M in BTC to Coinbase
An early Bitcoin miner has moved 2,000 BTC, worth over $182 million, to Coinbase after more than 15 years of inactivity. The transfer occurred in 40 tranches of 50 BTC each from addresses funded during the “Satoshi era,” when miners earned 50 BTC per block, and marks the largest Satoshi-era transfer since November 2024. Such movements can unsettle the crypto market as they may signal large sell-offs, but analysts note early holders are typically strategic, and use exchanges for various purposes beyond liquidation. The coins, originally valued at just $3.50 in 2010, were held in Pay-to-Public-Key addresses, an early Bitcoin format. Despite the large transfer, there was minimal market reaction; Bitcoin’s price remained stable at around $91,000. Transfers of dormant coins are rare but have occurred before and can raise short-term market uncertainty and volatility.
