3 Satoshi-era Bitcoin wallets transfer $230M in BTC after 6-year dormancy

During 2023, several Satoshi-era Bitcoin wallets have risen from dormancy to transfer their BTC to a new address.

3 Satoshi-era Bitcoin wallets transfer $230M in BTC after 6-year dormancy

 whale addresses that have been dormant since November 2017 transferred 6,500 BTC, worth roughly $230 million, on Nov. 2. Satoshi-era BTC refers to the very early stages of the Bitcoin network when it was still relatively unknown.

According to data from BitInfoCharts, the first wallet moved 2,550 BTC, estimated to be worth $90 million. A second address moved around 2,000 BTC worth $71 million, and the third address transferred around 1,950 BTC worth $69 million.

All three wallets had another thing in common: the last transaction from each came almost six years ago, on Nov. 5, 2017. Thus, these wallets slept through the Bitcoin bull run and the all-time high of over $69,000. Most of the Bitcoin in the three whale wallets dates back to July 2011 and is linked to F2Pool — a Bitcoin mining pool — suggesting it may have been accumulated via early Bitcoin mining. The three wallets held BTC when it traded under $15.

Related: 100%+ BTC price gains? Bitcoin faces ‘massively overvalued’ stocks

Whether all three wallets belong to the same individual or entity is not confirmed, though the wallet history and transaction patterns suggest that could be the case. The recent movement of Bitcoin whale addresses containing Bitcoin from the 2011 era comes just days after the BTC price touched a new yearly high above $35,000.

2023 has seen several Bitcoin whales and addresses more than 10 years old rising from dormancy, transferring BTC to new addresses. Earlier in July, a wallet dormant for 11 years transferred $30 million in BTC, and a month later, in August, a Saotshi-era wallet transferred 1,005 BTC to a new address.

Magazine: The value of a legacy: Hunting down Satoshi’s Bitcoin

Exchange or buy BTC


Disclaimer: The information contained on this widget is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this widget constitutes a solicitation, recommendation, endorsement, or offer by Cointelegraph or any third party service provider to buy or sell any cryptoassets or other financial instruments. We advise you to spend only what you can afford to lose, and always seek independent financial advice if you are in doubt. You should not purchase any cryptoassets if you do not fully understand the nature of your purchase and the risks involved. We recommend that you refer to the issuer’s/ advertiser’s t&c and help/ support pages for more information.

Hashing It Out: Roofstock onChain vice president explains how Web3 and real estate interact

Sanjay Raghavan believes that the tokenization of real estate could bring Web3 adoption and provide a diversification alternative for crypto natives.

Hashing It Out: Roofstock onChain vice president explains how Web3 and real estate interact

The tokenization of real-world assets has been tipped as a major use case of blockchain technology that could drive Web3 adoption. In episode 35 of Cointelegraph’s Hashing It Out podcasthost Elisha Owusu Akyaw interviews Sanjay Raghavan, vice president of Web3 Initiatives at Roofstock onChain, about tokenized real estate on the blockchain and how digital real estate investing interacts with the nonfungible tokens market and the decentralized finance landscape. Raghavan also talks about fractional nonfungible tokens (NFTs), regulations and the risks related to Web3 real estate platforms.

Raghavan explains how real estate is sold on the blockchain using NFTs. Companies that sell real estate on-chain must first purchase the property and create a limited liability company (LLC). An NFT is then created, which is associated with the ownership of the LLC. When users buy the NFT, they buy the LLC, which means they have purchased the property.

Raghavan tells Hashing It Out that regulations for tokenizing real-world assets can be complex. In the United States, for instance, various states have rules on the sale of assets, meaning that com navigate separate compliance requirements across 50 jurisdictions.


Beyond bringing people from the traditional real estate market to Web3, Raghavan believes that crypto natives may see real estate tokenization as a diversification tool. He explains that most investment alternatives in the industry may be highly correlated to the Bitcoin 



 price, and having another stable and less correlated asset could be a reason for exposure to real estate NFTs.

Raghavan also talks about the fractionalization of assets, including NFTs, which may require running a securities program that makes it unattractive for companies working in the United States. On the other hand, non-U.S. citizens may be able to access fractional NFTs in the future if firms outside the jurisdiction buy properties and sell the NFTs in other markets.

Leave a Comment