Early Bitcoin Miner Wallets Awaken, Moving $15 Million After 15 Years

By: Isha Das

In a remarkable turn of events, dormant Bitcoin miner wallets have resurfaced, moving a combined total of 250 BTC, currently valued at over $15 million, after roughly 15 years of inactivity.

On September 20, Lookonchain reported that five miner wallets, each of which received 50 Bitcoin as block rewards in early 2009, have shown activity for the first time in more than a decade. On-chain data reveal that these wallets received their mining rewards during a period often referred to as the Satoshi era—when Bitcoin's pseudonymous creator, Satoshi Nakamoto, was still actively communicating online.

Bitcoin, which was worth mere cents at the time, is now trading at over $63,000. This marks an astonishing gain of over 1,000,000% for the asset. Considering the significant increase in price, the owners of these wallets have seen an extraordinary return on their early investments.

Who Owns These Wallets?

Whenever funds move from old wallets, particularly from the Satoshi era, it captures the attention of the crypto community. The significance of these wallets receiving rewards shortly after Bitcoin's launch suggests they were owned by individuals involved in its early days. Some speculate they could be connected to Satoshi Nakamoto himself, but this remains conjecture. The synchronized movement of funds from these five wallets on the same day suggests that they likely belong to a single party or individuals who are closely related.

Dormant Wallets: How Many Are Left?

A Fortune report indicated that approximately 1.75 million Bitcoin wallets have been inactive for over a decade. Many of these wallets hold significant amounts of BTC, having purchased them when Bitcoin prices were in the double digits. These dormant wallets collectively hold about 1,798,681 Bitcoin, now valued at over $120 billion.

Recently, several other Satoshi-era wallets have been activated, transferring BTC to new addresses and, in some cases, moving funds to crypto exchanges. This trend suggests that the owners may be looking to capitalize on the immense gains after years of holding.