An anonymous Bitcoin miner from the early days of Bitcoin, known as the Satoshi era, recently made a significant move by transferring part of their 50 BTC reward to an active wallet linked to various exchanges. This miner, who had originally mined the Bitcoin in block 66,138, decided to move 2.99 BTC to one wallet and the remaining amount to another wallet. The new wallet, which received the majority of the BTC, has already sent $1.5 million to the crypto exchange OKX and has been active on other platforms like Coinbase, Kraken, BloFin, and Crypto.com.
This move has sparked speculation that the miner may be gearing up to sell their Bitcoin rewards for a substantial profit. The potential profit from the sale could be as high as 226,666,567%, considering the value of the rewards at the time they were mined. Despite the transfer, the Bitcoin from 2010 has not been moved from its new location as of now.
While some believed that this miner could have been Satoshi Nakamoto, the mysterious creator of Bitcoin, a detailed analysis revealed that the wallet did not align with the typical spending patterns associated with Satoshi. The mining of the block in question took place in July 2010, a time when multiple miners, besides Satoshi, were actively participating in the network. The nonce values included in the Coinbase transaction did not match those typically associated with Satoshi’s mining activities.
Despite the lack of evidence linking this miner to Satoshi, it is clear that they have been actively involved in the crypto industry while holding onto their early Bitcoin rewards. The fact that they have interacted with various exchanges and moved a significant amount of BTC indicates that they are looking to take advantage of the current market conditions.
This recent development highlights the ongoing interest and activity of early Bitcoin miners in the cryptocurrency space. It also serves as a reminder of the potential profits that can be gained from holding onto digital assets for an extended period. As the crypto industry continues to evolve, it will be interesting to see how other early miners choose to manage and utilize their rewards in the future.