Bitcoin Wallet From February 2009 Suddenly Comes To Life, Sparking Speculation That Satoshi Is Using His Coins, Although Satoshi Probably Isn’t Back

May 21, 2020 / by Crypto.IQ

A Bitcoin (BTC) wallet which was last active on February 9 2009 has suddenly come to life and has sent a 10 Bitcoin (BTC) transaction. What’s really remarkable is that this Bitcoin (BTC) wallet was created just over a month after the genesis block, during a time when barely anyone was using Bitcoin (BTC). This has sparked speculation that this wallet is Satoshi’s wallet, but that probably isn’t true.

Although it is a very rare event for a wallet from 2009 to send any Bitcoin (BTC), it does happen occasionally as can be seen in the below tweet.

Basically, the last time this happened was in 2017, and before that there were several similar transactions in 2015.

Notably, Satoshi was not deemed to be associated with the transactions from 2017 and 2015, and therefore it is not 100% guaranteed that a wallet from the earliest days of Bitcoin (BTC) is owned by Satoshi.

What adds to the uncertainty is the fact that Hal Finney and Martti Malmi were using Bitcoin (BTC) in February 2009, and therefore this wallet could belong to them or their next of kin. Further, Bitcoin (BTC) was publicly announced on the cypherpunk mailing list, and therefore several anonymous cypherpunks may have been using Bitcoin (BTC) by early February 2009.

On a final note, within a few hours of this transaction happening Bitcoin (BTC) flash crashed from $9,800 to as low as $9,100, before recovering to $9,500. It is not guaranteed that this flash crash was due to this wallet from 2009 becoming active, but it is actually likely.

Essentially, traders may have heard rumors that Satoshi was going to start dumping Bitcoins (BTC), causing them to panic dump themselves. However, all things considered it is extremely unlikely that a dump is coming.

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