Yet another Satoshi-era wallet recently recenlty sprang back to life, according to data provided by Onchain Lens.
The wallet in question moved 50 BTC (around $4.33 million at the time of the post) into five new wallets. The transactions came after roughly 15 years of dormancy.
It is considered a “Satoshi-era” wallet because it was first active in the very early days of Bitcoin.
Whales may decide to gradually sell coins due to significant price appreciation. In fact, OG whales offloading their holdings has frequently been cited as one of the key reasons behind the ongoing price correction.
They might also move coins due to other factors (such as consolidation, security, testing, obfuscation, and so on).
It should be noted that Satoshi-era wallets are extremely rare. Estimates vary, but there are believed to be only a few hundred wallets that were active in 2009–2010 with significant BTC holdings.
What Bitcoin looked like back then
The wallet was activated on March 18, 2010. Back then, the cryptocurrency had been live for just over a year (launched January 3, 2009). The software was still very experimental and maintained by a small group of developers, including Satoshi himself. The concept of cryptocurrency was almost entirely unknown
The Bitcoin community consisted of a few dozen to a few hundred active participants worldwide. The first recorded real-world transaction (buying pizza for 10,000 BTC) happened only in May 2010.
Mining was done primarily on personal computers. From Genesis (2009) until late 2012, the block reward was 50 BTC per block. Hence, the aforementioned coins, which have just been transferred, were certainly received from mining a block.