In August 2010, when Bitcoin was valued at $0.06, 40 BTC were deposited into this wallet, according to data from Bitinfocharts. In total, these coins were worth $2 at the time, RBC reports.
On the evening of July 8, 40 bitcoins were withdrawn. The exchange rate at the time of the transaction was $62,200. Over nearly 16 years, it has risen 1,036,666-fold, and the holder’s profit from the cryptocurrency’s price appreciation amounted to $2.48 million.
The “Satoshi Era” refers to the formative period of cryptocurrencies, which ended with the disappearance of Bitcoin’s anonymous creator, known by the pseudonym Satoshi Nakamoto. He wrote his last public message on December 12, 2010, and continued to correspond with other developers for several more months before ceasing all communication.
In the summer of 2010, there were no cryptocurrency exchanges or other platforms where one could buy or sell bitcoins. The coins were received by the first miners, who mined the cryptocurrency using ordinary computers. The block reward at that time was 50 BTC.
The transaction history shows that the total amount (50 BTC) was split into two parts: 10 bitcoins were sent to another address, and 40 bitcoins were sent to the wallet of the user, who then held onto them for 16 years.
In April, a “crypto whale” from the Satoshi era transferred bitcoins worth $150 million. He began accumulating coins in 2011 when the price was around $0.4. By the time of the transfer, their value had increased 197,000-fold.
