Satoshi-Era BTC on Move, On-chain Data Finds

U.Today - On-chain analytics platform Glassnode noted in a recent tweet that 15 years after Laszlo Hanyecz made history by spending 10,000 BTC (now worth $1.1 billion) on two pizzas, some of those early-era Bitcoins are still moving.

According to Glassnode, Bitcoin from the Satoshi era, which refers to the period when the Bitcoin creator was still active in the crypto space, is quietly shifting on-chain. These ancient wallets, which were formerly deemed dormant, have seen fresh activity in recent months.

Glassnode observed that the >10-year cohort’s share of Bitcoin’s Realized Cap has dropped from a peak of 0.045% to 0.033%. Notably, this decline accelerated between December and February and has picked up again since April 20.

The timing of the reawakening of these ancient coins in December to February as well as in April aligns with the rise in the price of Bitcoin. Bitcoin reached six figures for the first time in December, peaking in January at $109,114, following which the price fell.

Bitcoin revived its uptrend from lows of $74,553 in April, with its recent surge casting the spotlight on early holders, including its mysterious creator Satoshi Nakamoto, whose net worth has recently pushed higher in the top global rankings.

Bitcoin reaches all all-time high on Pizza Day

In 2010, Laszlo Hanyecz performed the first known commercial Bitcoin transaction, purchasing two pizzas for 10,000 BTC. The 10,000 BTC used for the pizza transaction are now worth over $1.1 billion, demonstrating the cryptocurrency’s extraordinary growth in value.

Bitcoin’s price climbed to fresh highs above $111,000, sparking unprecedented activity on the Deribit options market. Deribit’s open options contracts totaled a record $42.5 billion, showing elevated market interest.

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