Crypto Community Abuzz of A 40 BTC Transfer Moved From a Wallet Suspected to Be Satoshi’s

News / 20.05.2020
  • Whale Alert has detected a transfer from a Bitcoin wallet likely owned by Satoshi Nakamoto 
  • The Bitcoin in the wallet was mined in the first month of the king crypto’s existence back in 2009
  • It’s unusual that a holder of that many years is suddenly moving their coins as more and more bitcoin investors are holding for the long term

On May 20, 2020, Whale Alert detected a bitcoin transfer from a wallet possibly owned by the pseudonymous bitcoin founder, Satoshi Nakamoto. The BTC address has been dormant since Feb. 2009, when it received an initial deposit of 50 bitcoin, the block reward at the time.

While it is not confirmed whether it is Satoshi’s wallet, the bitcoin founder predominately mined BTC during its early existence. Thus, the wallet has a high chance of being associated with Satoshi or a close friend that mined bitcoin with him.

The fact that the coins moved for the first time since they were mined way back in 2009 has caused some to speculate that Satoshi Nakamoto has returned.

Back then, the BTC network was very small, and its pseudonymous creator Satoshi Nakamoto, was just a handful of active miners.

There’s potential the coins are now being mobilized to be sold. The crypto community will likely be watching every blockchain transaction closely over the next few days hoping to make sense of the sudden and seemingly random transaction.

That’s Old Bitcoin, But Is This Really Nakamoto?

Soon after data from Glassnode confirmed that some of the earliest mined bitcoin was just spent on-chain, the crypto community was set ablaze with speculation, with some suggesting that it is Satoshi himself, or someone close to Satoshi who moved the coins.  

glassnode picture suggesting the bitcoin transaction from the old btc wallet was satoshi's

Although anything is possible, the user moving this sum of BTC is likely not Satoshi, according to bitcoin markets analyst Zac Voell. 

This is because wallets associated with Satoshi’s estimated 1 million BTC supply are watched closely and aren’t related to the wallet in question.

Twitter user WhalePanda explained this to the crypto community by stating:

“Just for the record: this is not a known Satoshi address or anything. There were multiple miners even back then.”

Still, it’s certainly cool to see it move at all, considering when it was mined, the price of BTC was effectively zero. Whoever is moving this cryptocurrency certainly has some very strong ties to the creator of bitcoin. 

The Billion Dollar Question: Who is Satoshi Nakamoto?

The creator of bitcoin has always been hiding under a pseudonym, and nobody knows who he/she/they is, even though Satoshi interacted with several people in the industry in the early days when writing about his invention on forums.

Recently, Adam Back, who is Blockstream’s co-founder and CEO, had been touted as Satoshi, but he denied this statement and even tweeted:

“I don’t think we want to know. It’s better he stays anonymous.”

In the meantime, there’s Craig Wright, an Australian computer scientist who’s doing everything he can to prove he is Satoshi, but with poor results that have also led him to court several times.

Over the years, there have been many speculations about Satoshi’s identity: some say he’s a woman, some say he’s a group of people, while some even say he died a few years ago. 

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Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.