Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
An early crypto miner moved 50 BTC, worth over $3 million, after 14 years of inactivity, with part of the transfer ending up at crypto exchange Coinbase.
The transaction joins the few instances of"Satoshi era" bitcoin movements, following other significant transfers in 2023.The holdings, worth over $3 million as of Monday, were transferred to two wallets in Asian morning hours. Part of these transfers were eventually sent to crypto exchange Coinbase ,
Blockchain data shows the miner received 50 bitcoin as a reward in April 2010, months after the network first went live and the token was worth only a few dollars. That period is colloquially known as the Satoshi era, referring to the months when bitcoin’s pseudonymous creator, Satoshi Nakamoto, was active on online forums from late 2009 to 2011.
Several bitcoin wallets from that era have been active since the start of 2023. In July, a wallet that had been dormant for 11 yearsin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
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