GPT4 After 14 years of dormancy a Bitcoin miner has sent 3 million to Binance
A unique Bitcoin miner address from the “Satoshi era” has come to life after remaining inactive for 14 years, sending a staggering $3 million worth of BTC to the popular cryptocurrency exchange Binance.
The address in question, 1PDTD…m3Jcm, made a rare transaction on June 27th, moving 50 BTC, which is equivalent to $3.05 million. This event has caught the attention of many in the crypto community due to its historical significance.
According to blockchain transaction records, the miner initially acquired the 50 BTC back in July 2010, just a few months after the Bitcoin network was launched. This makes it one of the earliest Bitcoin miners to have participated in the network.
The term “Satoshi era” refers to addresses that were active during the early stages of the Bitcoin network, specifically between 2009, when the first cryptocurrency was created by the mysterious Satoshi Nakamoto, and around 2011, when Nakamoto vanished without a trace.
Interestingly, this isn’t the first time that old Bitcoin wallets have shown signs of life after a long period of dormancy. Since early 2023, multiple addresses from the “Satoshi era” have sprung back into action. Last year, in July, a wallet that had been dormant for 11 years suddenly transferred $30 million worth of Bitcoin to other wallets. In August, another wallet moved 1,005 BTC to a new address.
In March 2024, another miner who had been inactive for 14 years finally decided to transfer their funds, with a portion of the transaction ending up at the prominent crypto exchange Coinbase.
The reactivation of these long-abandoned wallets continues to intrigue and captivate the cryptocurrency community, as it raises questions about the individuals behind them and their motivations for resurfacing after so many years of silence.
In a similar vein, a dormant whale recently awakened after 8 years, making a substantial move by transferring over $116 million worth of Ethereum to the popular exchange Kraken. These instances serve as reminders of the ever-evolving and unpredictable nature of the cryptocurrency market.
