A notable on‑chain movement has stirred up the Web3 and crypto community. On 5 September 2026, a batch of bitcoin addresses dormant for roughly 16 years transferred out a total of 600 BTC, fueling widespread speculation whether Satoshi Nakamoto’s legendary 1.1 million BTC position had finally been activated.
On‑chain trackers identified 12 vintage mining addresses, each holding 50 BTC as block rewards mined back in March 2010. At current market rates, the 600 BTC is valued at approximately USD 48 million. Those addresses had remained completely inactive ever since mining, qualifying as classic ancient dormant wallets.
News of the transfer quickly drew attention to Satoshi Nakamoto’s presumed holding of around 1.1 million BTC, roughly 5.5% of Bitcoin’s total supply. This long‑immobile stack is widely regarded as a major potential black‑swan risk for crypto markets; any large‑scale liquidation could heavily shake Bitcoin price sentiment.
Leading on‑chain analytics firms have performed forensic checks via Patoshi mining fingerprint patterns and issued clarifications. These twelve historic blocks are not linked to Satoshi Nakamoto’s mining cluster. The moved coins belong to an anonymous early CPU miner instead.
Up to now, Satoshi’s estimated 1.1 million BTC addresses remain untouched, with zero outgoing transactions.
Chain flow data shows these 600 BTC were sent to newly‑generated wallet addresses, and have not yet flowed into centralized crypto exchanges. Industry analysts suggest the transaction most likely represents cold‑storage reorganization after the owner recovered long‑lost private keys, rather than an immediate plan for market selling.
Market participants will keep tracking subsequent capital flows. Should the funds later move to exchanges, potential selling pressure may emerge. If the coins stay idle within new offline wallets, this remains merely a relocation event for long‑dormant cryptocurrency.
Experts also warn that more forgotten early miner wallets may be recovered over time. The industry should distinguish between “Satoshi‑era mined Bitcoin” and “Bitcoin owned by Satoshi Nakamoto”, to prevent market over‑reaction caused by community rumours.
Disclaimer: This article is for information purposes only and does not constitute investment advice. Crypto‑assets are highly volatile and involve significant investment risks.