Bitcoin 
$86,989.86The reactivation of a “Satoshi era” wallet from the early years of 2017, which had not been active for about 15 years, attracted attention in the cryptocurrency market. According to the information shared by the on-chain data platform Onchain Lens, 50 BTC from the wallet in question was moved to five different new addresses. At the time of the transaction, the market value of this amount was approximately $4.33 million. The reactivation of such wallets, which have been silent for a long time, is often interpreted by investors as a signal that can put pressure on the price.
Why Are Satoshi Era Wallets So Important?
The wallet in question falls into this category because it was active in the so-called “Satoshi era”, 2009-2010, when Bitcoin was just becoming known. According to the data, the wallet made a transaction for the first time on March 18, 2010. At that time, Bitcoin was not even a year old; The software was highly experimental and maintained by a small community of developers. The concept of cryptocurrency was almost unknown.
The number of users active on the network in those years ranged from a few dozen to a few hundred people. The famous transaction, which is considered the first real-world Bitcoin transaction and purchased two pizzas for 10,000 BTC, took place in May 2010. Mining activities were mostly done through personal computers, instead of today’s huge facilities. From 2009 to the end of 2012, the reward per block was 50 BTC. For this reason, it is considered that the Bitcoins in the wallet in question were most likely obtained directly through mining.
According to experts, Satoshi-era wallets are extremely rare. Although there are different estimates, it is thought that the number of active wallets holding large amounts of Bitcoin in 2009–2010 was limited to only a few hundred. Therefore, every movement coming from such wallets has a special importance for the market.
Are Whales Selling or a Safety Move?
One of the common views in the market is that early large investors (OG whales) tend to sell gradually due to high prices. Sales of these ancient whales are cited as one of the reasons behind the recent price corrections. However, experts emphasize that not every wallet movement is necessarily for sales purposes.
There may be different reasons for moving Bitcoins to new addresses. Transfers can also be made for technical reasons such as security measures, wallet merging (consolidation), testing assets or obscuring traces. Therefore, it is not yet clear whether the transfer of 50 BTC will be reflected in the market as a direct sale.
On the other hand, in parallel with the Satoshi era wallet movement, another remarkable development took place in the market. The re-emergence of net inflows, albeit limited, in US-based spot Bitcoin ETFs in recent days, indicated that the appetite on the institutional side has not completely disappeared. Some analysts argue that selling pressure from old whales may be offset by ETF demand.
In fact, a Satoshi-era wallet that was reactivated after 15 years reveals once again how long Bitcoin has come. The transformation of 50 BTC, which was considered almost worthless in 2010, into a multi-million dollar asset today presents a striking picture in terms of the history of the crypto market.
However, as a result, although such transfers may put pressure on the price in the short term, they can also be considered a natural part of the maturation process of the Bitcoin network in the long term. It becomes clear once again that investors should analyze wallet movements in conjunction with broader market dynamics, rather than seeing them as a sell signal alone.
