After More Than 15 Years, Bitcoin Miner Wallets Come To Life

The wallets belong to miners who earned Bitcoin shortly after the blockchain’s launch in 2009. They began transferring funds on September 20, 2024. Each wallet was rewarded with 50 BTC, totaling 250 BTC. This Bitcoin was mined between January 29 and February 2, 2009. 

The Bitcoin blockchain went live on January 3, 2009, when its creator, Satoshi Nakamoto, mined the first block. On January 9, Nakamoto shared details on how to mine and send Bitcoin. Since these wallets received their rewards so soon after Bitcoin’s launch, many speculate they could have belonged to early Bitcoin miners, possibly even Nakamoto or someone closely involved in the project. 

When miners mined the first 250 BTC, it held little to no value. By 2011, Bitcoin’s value had climbed to $1 per coin on the now-defunct Mt. Gox exchange. Shortly after, Nakamoto stepped back from the public eye, expressing a desire to move on to other projects. Fast forward to 2024, and the 250 BTC in these wallets is now worth about $15.9 million, with Bitcoin trading at approximately $63,000 per coin. 

The sudden movement of such old coins has led to speculation across the crypto community. Some suggest that the wallet owners may have found an old hard drive. Others joke that a person could have been in a coma and awoke as a millionaire. A few believe the wallets might belong to Nakamoto or Hal Finney. Finney was an early Bitcoin adopter who received the first Bitcoin transaction from Nakamoto on January 12, 2009. 

Regardless of who moved the Bitcoin, the reactivation of these old wallets adds to the ongoing intrigue surrounding Bitcoin’s early days and its mysterious creator.