##Half a Million in Satoshi-era Bitcoin Just Moved to Bitfinex

 

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Is this “good for Bitcoin,” or a cultural oddity?

In brief

50 Bitcoin mined around the time Bitcoin's creator, Satoshi Nakamoto, was around, is on the move.

It appears to be sent to a hot wallet owned by Bitfinex.

Some think this is the sign of a bull run. That seems a little far-fetched.

Someone just moved 50 Satoshi-era Bitcoins, today worth $527,120, to the hot wallet of cryptocurrency exchange Bitfinex. 

The 50 Bitcoin was mined back in May 2010, when Bitcoin was around one-and-a-half years old. The owner has held onto those coins ever since and waited until last night to move them to the cryptocurrency exchange. The move was picked up by BTCparser, a Telegram bot that trawls through Bitcoin transactions. 

If the owner of those 50 Bitcoins sold the entire stash on Bitfinex, they would have made half a million dollars of pure profit. Back in 2010, Bitcoin wasn’t worth anything and, due to its obscurity, was very cheap and easy to mine. 

The coins are known as “Satoshi-era” coins because they were mined around the time that Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was still knocking around on Bitcoin forums and taking part in Bitcoin’s development. Nakamoto was last active on his regular haunt, Bitcointalk, on December 13, 2010. 

The last time someone moved Satoshi-era coins and it made waves was back in May, when someone moved 50 coins that were mined in February 2009. Much of that money went to Binance and Coinbase.