Satoshi-Era Bitcoin Miners Awaken En Masse Within One Hour – What’s Happening?

Earlier today, prominent blockchain tracker Whale Alert spread the word about several Satoshi-era Bitcoin wallets awakening after staying for more than 15 years in hibernation.

Five dormant 2009 Bitcoin miners suddenly re-emerge

However, analytics account @lookonchain has published a post, revealing that within a single hour there were five dormant Bitcoin wallets that have awakened, each containing 50 BTC – the equivalent of $3.18 million. By November 2012, when the halving took place, the Bitcoin network had reached 210,000 blocks.

All of them are miners who earned their 50 BTC for generating a Bitcoin block in 2009 – the year when the world’s pioneer cryptocurrency was launched by the enigmatic Satoshi Nakamoto. Back then, a block reward constituted 50 BTC until the first BTC halving in 2012, when it was slashed to 25 BTC.

All these five wallets transferred 250 BTC in total – an amount of Bitcoins valued at almost $16 million overall.

Bitcoin price regains $63,000

This week, the world’s flagship cryptocurrency, Bitcoin, has experienced large momentum, gaining more than 11% in total as it rose from $57,600 to the $64,000 level.

The price surge in the past 24 hours has been 3.36%. However, it was followed by a marginal drop and at the time of this writing, BTC is changing hands at $63,545. This impressive growth was triggered by the decision of the Fed Reserve to slash the annual interest rate by 50 basis points. 

This comes as the first interest rate cut initiated by the world’s most important central bank in the past four years as it has pivoted to a dovish stance.