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

Early Bitcoin Coins Still Shifting Hands After 15 Years

According to the on-chain analytics platform Glassnode, some of the earliest Bitcoin (BTC) coins are still moving, even 15 years after Laszlo Hanyecz made history by spending 10,000 BTC (now worth $1.1 billion) on two pizzas.

Glassnode's data reveals that Bitcoin from the Satoshi era, the period when the Bitcoin creator was still active in the crypto space, is quietly shifting on-chain. These ancient wallets, once considered dormant, have seen renewed activity in recent months.

The >10-year cohort's share of Bitcoin's Realized Cap has dropped from a peak of 0.045% to 0.033%, with a notable acceleration in the decline between December and February, and a resurgence since April 20. This timing aligns with the rise in Bitcoin's price, which reached new all-time highs above $111,000 on the 15th anniversary of Bitcoin Pizza Day.

The reawakening of these ancient coins highlights the enduring significance of the early Bitcoin community, including the mysterious creator Satoshi Nakamoto, whose net worth has recently climbed in the global rankings. The extraordinary growth in Bitcoin's value, from Hanyecz's 10,000 BTC pizza purchase to over $1.1 billion, underscores the cryptocurrency's remarkable journey.

The recent surge in Bitcoin's price has also cast a spotlight on the Deribit options market, where open options contracts reached a record $42.5 billion, indicating elevated market interest and activity.