Two days ago, 50 bitcoins worth about $500,000 were transferred to one of the hot wallets of Bitfinex.

This may seem like nothing more than an ordinary transaction.

But the reason we are writing an article about it is the history of its mining, which dates back to May 2010, and no currency has been moved since then until the day before yesterday.

As of May 2010, Satoshi Nakamoto, the founder of Bitcoin, was still active.

The transaction that moved Bitcoin back ten years ago may not have been addressed due to the successive big events that have dominated the crypto market landscape, from President Trump’s infection with the Corona virus to the accusation of Bitmex of money laundering.

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50 bitcoins moved from the time of Satoshi Nakamoto:

On October 1, 2020, someone sent 50 bitcoins, currently worth just over $500,000, to a wallet that appeared to belong to cryptocurrency exchange Bitfinex.

A closer look at the sending address turns out to be the second ever transaction from that address.

The first transaction was made in 2010, seized on May 25, 2010, and the transaction was a collective mining reward.

This means that the address received 50 bitcoins ten years ago to mine a block on the bitcoin network and hasn’t touched it since.

It seems that this person did the right thing, as the currency paid off more with time, as it was then in 2010 almost worthless, to be estimated today at half a million dollars.

It is also interesting to note that this address was during the time when Satoshi Nakamoto, the creator of Bitcoin, was still active.

Show data from forumBitcointalkFamously, Satoshi’s last activity was in December 2010.

Bitcoin price not affected by the transaction:

It is clearly not the first time that bitcoins from old addresses have been sent to cryptocurrency exchanges.

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In May of this year, we reported on Bitcoin Arab that someone sent 50 bitcoins that were mined in 2009 to an unknown wallet.

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Many members of the crypto community speculated that it could be “Satoshi” and the price dropped as a result of fears that more bitcoin dumps would follow.

But that did not happen, and the same can be said about this transaction that hung Also, the founder of Binance “CZ” said:

Last time (5 months ago), this was associated with a 7% decrease.

Now this is nothing.

Correlation does not prove causation.

Read also:

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