A number of Bitcoin wallets from the Satoshi era have come out of hibernation in 2023 in order to move their cryptocurrency to a new address.

Three Satoshi-era Bitcoin whale addresses that have been dormant since November 2017 transferred 6,500 BTC, worth roughly $230 million,

On Nov. 2. Satoshi-era BTC refers to the very early stages of the Bitcoin network when it was still relatively unknown.

According to data from BitInfoCharts, the first wallet moved 2,550 BTC, estimated to be worth $90 million. A second address moved around 2,000 BTC worth $71 million, and the third address transferred around 1,950 BTC worth $69 million.

All three wallets had another thing in common: the last transaction from each came almost six years ago, on Nov. 5, 2017. Thus, these wallets slept through the Bitcoin bull run and the all-time high of over $69,000. 

Most of the Bitcoin in the three whale wallets dates back to July 2011 and is linked to F2Pool — a Bitcoin mining pool — suggesting it may have been accumulated via early Bitcoin mining. The three wallets held BTC when it traded under $15.

Although the wallet history and transaction patterns imply that it may be the case, it is not confirmed that all three wallets belong to the same person or organisation. 

Less than a week after the price of bitcoin reached a new annual high of over $35,000, there has been a significant migration of Bitcoin whale addresses holding bitcoin from the 2011 timeframe.

In 2023, a number of Bitcoin whales and addresses that have been inactive for more than ten years have sprung to life, 

Transferring Bitcoin to new addresses. A wallet that had lain dormant for eleven years moved $30 million in Bitcoin earlier in July. A month later, in August, a wallet from the Saotshi era moved 1,005 Bitcoin to a new address.

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