Largest-ever transaction of $8.6B of Satoshi-era bitcoins, held in custody for more than 14 years and bought at rock-bottom prices

Over the weekend, Bitcoin made headlines after more than 80,000 Bitcoins—stored in wallets untouched for over a decade—were transferred to modern platforms. These “Satoshi-era wallets,” as reported by Future Zone, were created over 14 years ago, meaning the Bitcoins they held were acquired when the cryptocurrency was worth a fraction of its current value. As of July 7, one Bitcoin is valued at around $108,000. Back in 2010, that same Bitcoin was worth just $0.30.

Satoshi Nakamoto is the anonymous author of a white paper about Bitcoin that surfaced on internet forums in late 2008. Subsequently, he was the first to mine what is called the “genesis block” of the Bitcoin blockchain. Reports suggest that some of the first wallets to purchase Bitcoin around the time of its release made waves in the crypto space. His identity remains unknown over a decade later.

What we know about the transfer

Arkham broke the news.

On July 4, the crypto platform announced that they had tracked a “single entity” that had “moved $8.6 BILLION of BTC from 8 addresses in the past day.”

“All of the Bitcoin was moved into the original wallets on either 2nd April or 4th May 2011 and has been held for over 14 years,” continued Arkham, who also confirmed that since landing in the new account, there had been no further movements. Coin Telegraph, another crypto-based news account, stated that Bitcoin was likely purchased for under $3.50 per coin back in 2011, representing a staggering return on investment.

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