Satoshi-Era Bitcoin Whale Transfers Nearly $14 Million Worth of BTC
According to data from cryptocurrency analytics platform Lookonchain, a miner wallet has been activated for the first time in 11 years, transferring $13.95 million worth of Bitcoin.
The miner earned 250 BTC from mining back in 2010. At that time, users could mine Bitcoin using ordinary CPUs, and mining was the primary method of obtaining the cryptocurrency. The first Bitcoin exchange, Bitcoin Market, was launched in February 2010.
Significant milestones in Bitcoin mining history include:
- July 2010: The first Bitcoin block mined with a GPU.
- 2011: The rise of FPGA mining.
- 2013: ASIC mining became dominant.
Today, cryptocurrency mining is a large industry controlled by companies with substantial resources. Bitcoin’s market capitalization reached $1 million in November 2010 and now stands at $1.1 trillion.
As reported by U.Today, another Satoshi-era miner wallet became active in June. Such activations are rare.
The enigmatic Bitcoin creator last logged into the BitcoinTalk forum on December 13, 2010. Shortly after, the first pool-mined block was solved by Slush Pool. In 2014, the creator briefly resurfaced to debunk a false Newsweek article about their identity and has not been heard from since.