Early Bitcoin Miner Wallets Move 50 BTC After Years of Inactivity
Recently, tokens that were awarded to early Bitcoin miners by the anonymous architect of the Bitcoin, Satoshi Nakamoto, as rewards have been seen traveling through their wallets. Five miner wallets that were awarded 50 Bitcoin apiece as block rewards in 2009 began transferring their token on September 20. According to blockchain statistics, three wallets received block rewards on January 31, 2009, whereas one wallet received the mining reward on January 29, 2009. On February 2, 2009, the final wallet was given the block rewards.
On January 3, 2009, Nakamoto mined the genesis block and included a message referencing a headline from the UK newspaper The Times, which marked the official launch of the Bitcoin network. The inventor of Bitcoin gave an overview of the protocol’s fundamentals, including how to mine and send coins, on January 9, 2009. The wallets appear to have belonged to individuals who were there when the Bitcoin blockchain was first launched, as they were mined just a few weeks after its establishment.
Who’s Behind 250 BTC Transfers from 2009? Speculation Points to Satoshi or Finney
The 250 BTC tokens had no value when they were initially mined. But eventually, in 2011, at the now-closed cryptocurrency exchange Mt. Gox, Bitcoin hit $1. The founder of Bitcoin said goodbye to the cryptocurrency community and announced his intention to work on other projects a few months later. When we fast-forward to 2024, the tokens have a $15.9 million market value.
Community members made assumptions about who was moving the Bitcoins as soon as the movements were reported. When one X user sees the Bitcoin, they assume that someone found their old hard drive and won the lotto, while another user speculates that the person might have been in a coma and woke up as a billionaire.
In the meantime, some users speculate that Nakamoto or American software developer Hal Finney might be the owner of the wallets. On January 12, 2009, the world witnessed its first Bitcoin transaction. Finney was among the first users of Bitcoin, and this was the occasion when the platform’s founder sent him 10 BTC.
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