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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Blast From Bitcoin Past: Is Someone Close to Satoshi Moving 50 BTC From 2009?

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
2 mins read
bitcoin btc satoshi crypto

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The cryptocurrency community was just abuzz by breaking news that blockchain data has revealed that Bitcoin mined in February 2009 was just moved. The sum of BTC was among the first-ever cryptocurrency to ever be mined, dating back to just one month after the Bitcoin block was mined.

What exactly does this mean? Why is this individual moving their Bitcoin now?

Blockchain Data Shows 50 BTC Mined in 2009 Is Suddenly On The Move

Data from Glassnode has revealed a UTXO older than a decade was just spent on-chain. What this means, in easy to breakdown terms, is that some of the earliest mined Bitcoin is now on the move. But who is moving it and why has the crypto community set ablaze with speculation.

Related Reading | Financial Analysts Are Divided On What to Expect From The Bitcoin Halving 

Some speculate that it is Satoshi Nakamoto themselves, or someone close to Satoshi who was involved in the project early on.

🚨🚨🚨A #Bitcoin UTXO older than 11 years was just spent on-chain!

It dates from February 9th 2009 – only one month after the creation of Bitcoin. pic.twitter.com/IILxvYWZLW

— glassnode (@glassnode) May 20, 2020

The UTXO dates all the way back to February 9th, 2009, just one month following the creation of Bitcoin.

👤👤👤 40 #BTC (391,055 USD) transferred from possible #Satoshi owned wallet (dormant since 2009) to unknown wallet

ℹ️ The coins in this transaction were mined in the first month of Bitcoin's existence.

Tx: https://t.co/hxDJGGtfF0

— Whale Alert (@whale_alert) May 20, 2020

WhalePanda, a Bitcoin investor and researcher, says there were multiple miners back in 2009 as well, and the address is not a known Satoshi address.

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

— WhalePanda (@WhalePanda) May 20, 2020

Early Crypto Supporter: Is It Bitcoin’s Creator Or Someone Close To Satoshi?

Although anything is possible, the user moving this sum of BTC is likely not Satoshi. Wallets associated with Satoshi’s estimated 1 million BTC supply are watched closely and aren’t related to the wallet in question.

Still, there is a chance that this user has or had close ties to Satoshi to be involved so early on in the project.

This is NOT satoshi. I repeat, NOT satoshi. pic.twitter.com/ggnJLi2V8L

— Marcel Pechman USD is a 🆂🅷🅸🆃🅲🅾🅸🅽 🇧🇷 (@noshitcoins) May 20, 2020

It’s also unusual that a holder of that many years is suddenly moving their BTC as more and more Bitcoin investors are beginning to hold for the long term.

There’s potential the BTC is being mobilized to be sold, and the crypto space will be watching every blockchain transaction closely and putting them under a microscope hoping to make sense out of the sudden and seemingly random transaction.

These are probably not Satoshi coins based on patoshi pattern research (https://t.co/oSWSCPuCqv), which I just learned about today (ht @lopp). Very cool on-chain analysis project

— Zack Voell (@zackvoell) May 20, 2020

The beauty of Bitcoin and the blockchain technology it brought about, is that all transactions are transparent and can be viewed by anyone with access to the internet.

Related Reading | Chartered Market Technician Claims Crypto Poised For Strong Uptrend 

This means that no matter what happens to this BTC, the crypto world is bound to know quickly. And given how significant this particular sum of Bitcoin is, all eyes will be on the blockchain over the next several days to see what happens next.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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