50 Bitcoins from Satoshi-Era Moved for the First Time Since 2009

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May 21, 2020 – 40 BTC (worth US$391,055 at the time) transferred from a dormant wallet to an unknown wallet. These coins were some of the first bitcoins to ever get mined. The transaction marked the first time these bitcoins were moved since 2009.

As per blockchain.com, the Bitcoin address had 50 BTC received in 2009, just weeks after Satoshi Nakamoto created Bitcoin. 40BTC have been moved to a new address while 10BTC have been transferred to a multisig address.

Naturally, Crypto Twitter got excited. Some even thought it was Satoshi himself who moved these coins. If the owner of these coins isn’t Satoshi, could it be some of the Bitcoiners who were there in the beginning? Hal Finney received the first-ever Bitcoins from Satoshi. Martti Malmi was the first developer to code alongside Satoshi.

Mr. Finney’s family denied it was his coins (He passed away in 2014).  Mr. Malmi also said it was not him:

Adam Back, cryptographer and founder of Blockstream said if Satoshi was selling coins, he would “sell his most recently mined, and so most anonymous first”:

Maybe it’s not really Satoshi. A research in 2019 concluded that there is a pattern to the blocks mined by Satoshi himself. Using that, they concluded these 50 BTC and this dormant wallet address was not Satoshi’s.

Mr. Back, however, said that this research “is pretty much guessing” (see tweet above).

There’s also the issue of Craig Wright.

Craig Wright had publicly claimed multiple times that he’s Bitcoin’s inventor. He’s currently involved in a legal battle over the early Bitcoins he mined together with the late Ira Kleiman. In the court, he needed to prove that he is Satoshi. But he could not remember all his addresses. So Mr. Wright, through the help of another person, produced a list of Bitcoin addresses that is said to be his. This other person listed thousands of addresses, which included the address in question in this article.

TLDR: 50 BTC from Satoshi-era bitcoins moved for the first time since 2009. Everyone started wondering again who is Satoshi Nakamoto.

By the way, here’s the market reaction:

To which Binance’s CZ said:

This article is published on BitPinas: 50 Bitcoins from Satoshi-Era Moved for the First Time Since 2009

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]