A closely monitored Satoshi-era bitcoin whale has resurfaced with another major onchain move. According to the report, the entity transferred 2,000 BTC mined in 2010 on March 1, 2024, with the transactions confirmed in a single block. At prevailing market prices, the moved coins were worth about $123.9 million. The activity marked the whale’s first appearance since December 2023.
Forty old block rewards were spent
The transfer was carried out through roughly 40 separate transactions, each spending a 50 BTC coinbase reward from 40 different P2PKH addresses. Those addresses were originally created between July and October 2010 and, after sitting untouched for more than 13 years, were spent for the first time on March 1.
The funds were then consolidated into a single P2SH address. At the time of the report, address “3BhsG” held the full 2,000 BTC balance. The transactions were confirmed at block height 832,648, and the overall pattern closely resembled the whale’s previous spending behavior tracked by analysts.
Related BCH was moved as well
In parallel, the entity also moved the 2,000 bitcoin cash (BCH) associated with those legacy bitcoins, sending the funds to the known address “qpq4u.” That suggests the whale was not only reorganizing its early bitcoin holdings, but also managing the forked assets tied to them.
When these coins were first obtained before November 2010, their estimated value was only about $800. By the time of this latest move, that figure had climbed to roughly $123.9 million. Since first being detected in March 2020, the same entity has been linked to 14 separate spending events and has relocated a total of 16,000 vintage and virgin BTC, now valued at nearly $991 million based on the report’s pricing.
Spending from 2010-era dormant bitcoin has become increasingly rare in 2024, which is why this transaction quickly drew attention across the market. While an onchain transfer does not automatically signal an imminent sale, the move remains significant for analysts tracking early miners, whale wallet behavior, and potential market implications.