Did Satoshi Nakamoto Just Moved His Bitcoin? Twitter Goes Wild Over A Might Be Satoshi

By Dalmas Ngetich
Published May 20, 2020 Updated May 25, 2020
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Did Satoshi Nakamoto Just Moved His Bitcoin? Twitter Goes Wild Over A Might Be Satoshi

By Dalmas Ngetich
Published May 20, 2020 Updated May 25, 2020

For the first time, there might be confirmations that the elusive Satoshi Nakamoto is alive and keeping up with tabs. Just kidding, 40 BTC from block height 3654 have been moved to an unknown address, and the transaction snapped by the eagle-eyed crypto community.

The 40 BTC are part of the 50 BTC which were mined in the first month of Bitcoin’s history in 2009.

Twitter Going Crazy Over A Might Be Satoshi Account?

Even so, no one is really sure whether this is Satoshi Nakamoto since in the very early days of Bitcoin history, the late Hal Finey—who is considered one of the very first people to adopt Bitcoin and paved the way for others, was also heavily involved. Finey is deceased.

Meanwhile, the David Kleiman estate is engaged in a lawsuit with Craig Wright. Craig alleges to be Satoshi and even provided a list of BTC addresses from which today’s transaction was executed from.

However, he hasn’t proved to be the true owner and therefore Satoshi by submitting the private keys on the 1 million BTCs despite being pressed by the court in several instances. Besides, the nonce patterns of the addresses provided are inconsistent and hints that the coins amassed were from different miners.

On the other hand, someone might have found out this old wallet. Researchers, by looking at the nounce which is part of the Bitcoin block, claim that this wallet wasn’t the original one Satoshi used to store coins in.

For now, the true identity and the owner of the 40 BTC will be a subject of speculation. But what is truly known is that block 3653 and 3655, according to experts, were mined by Satoshi Nakamoto before disappearing from the interwebs.

But already, there are some quarters of the crypto community who believes Finey’s wife executed this transaction.

Small amounts of the 40 BTC were sent to Coinbase (0.004 BTC) and CoinPayment (0.003 BTC) and is only but a small portion of a bigger trove.

Old Bitcoin Has Been Moved Before, Sellers are Panicking

Encouragingly, it won’t be the first time that old coins are being moved and spent on-chain. These are some of the oldest coins in the network but in the last ten years, old BTC whales have been transferring some coins from time to time.

Still, today’s transaction has caused panic and sparked a sell-off. Analysts show that BTC is down $100 following this event.


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About Author
Dalmas Ngetich
335 Articles
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich