Bitcoin Satoshi Era whale transfers $180 million to exchange

Source: PortaldoBitcoin Original Title: Satoshi Era Bitcoin Whale Transfers $180 Million in BTC to Coinbase Original Link: https://portaldobitcoin.uol.com.br/baleia-de-bitcoin-da-era-satoshi-transfere-us-180-milhoes-em-btc-para-a-coinbase/ A pioneering Bitcoin miner transferred 2,000 BTC to a cryptocurrency platform, reveal blockchain analyses.

Transaction data shows that the funds were sent in parcels of 50 BTC each on Saturday, and the coins had not been moved for over 15 years.

“Most of the addresses in this group appear to have been funded by the platform with 50 BTC each, 15 years ago, in 2010,” said a spokesperson from the on-chain analysis platform Bubblemaps, with the “vast majority” of the funds returning to the cryptocurrency exchange.

The amount of cryptocurrency dates back to the “Satoshi era,” referring to the pseudonymous creator of the cryptocurrency, Satoshi Nakamoto, when miners received a reward of 50 BTC per block.

Although this was only worth US$ 3.50 in July 2010, the dollar value of this reward per block skyrocketed to US$ 4.5 million at current market rates.

In total, the 2,000 BTC are valued at over US$ 182 million today, a powerful illustration of the influence of large investors.

Tracking whale movements

Movements in inactive Bitcoin addresses can raise concerns in the cryptocurrency market, fueling fears of aggressive selling.

Julio Moreno, head of research at CryptoQuant, highlighted that “historically, Satoshi-era miners move their Bitcoins at key inflection points.” He added that this was the largest coin transfer from that period since November 2024.

Rachel Lin, CEO of SynFutures, said that transfers to centralized exchanges historically signal “potential liquidity events, whether they are profit-taking, collateral allocation, or positioning before volatility.”

“That said, not every whale movement means imminent liquidation,” she added. “Early holders tend to be highly strategic, using exchanges for hedging, OTC liquidation, or structured operations instead of direct liquidation.”

Lin noted that the market’s reaction will have a crucial impact, as it can “increase short-term uncertainty, amplify volatility, and wipe out leveraged traders in an already macroeconomically sensitive market.”

The funds were distributed across 40 P2PK addresses — also known as Pay-to-Public-Keys (Payment to Public Keys).

This was the original method for receiving Bitcoin when the blockchain was launched, with Satoshi Nakamoto using this method to send coins to collaborator Hal Finney.

Bitcoin whales awaken

Addresses that become active unexpectedly after years of inactivity are rare but not unprecedented.

Last September, a whale holding 479 BTC for 12 years transferred a batch of coins to new addresses. They were among the first investors to start profiting from their holdings, some converting their Bitcoins into Ethereum as the second-largest cryptocurrency in the world began to outperform.

Transfers to centralized exchanges may indicate that the coins are about to be sold, but there appeared to be little panic in the cryptocurrency markets.