Dormant 16-year Bitcoin addresses transfer 600 BTC worth about $48 million
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Dormant Bitcoin miner wallets from March 2010 moved 600 BTC (~$48m) after more than 16 years, reviving market focus on legacy supply potentially re-entering circulation. Whale Alert reports no connection to Satoshi Nakamoto, reducing tail-risk narratives, while the staggered transfer pattern suggests operational testing before broader movement. Short term, this can pressure sentiment via perceived supply overhang and trigger volatility around on-chain flow signals.
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According to Huo Xing Finance, 12 Bitcoin addresses that had been inactive for more than 16 years moved a combined 600 BTC on Sept. 5, valued at roughly $48 million.
The coins trace back to mining rewards from March 2010, a period when Satoshi Nakamoto was still active on the Bitcoin network. Whale Alert said the 600 BTC originated from rewards across 12 mined blocks and added it found no connection between the addresses and Satoshi Nakamoto.
Earlier, Lookonchain reported it had identified seven of the miner-linked wallets, which transferred 350 BTC after about 16.5 years of inactivity. Whale Alert also noted that one mining reward was moved several blocks ahead of the bulk of the transfers, a pattern often associated with a test transaction before moving the remaining funds.
