Bitcoin Dips by 4.5% on Speculation Satoshi Nakamoto Just Moved 50 BTC

In brief:

• 50 BTC from February 2009 just moved.
• The movement of the 50 BTC was split into two transactions.
• Some say it belongs to Satoshi or his closest associates. Others believe that it is an early miner who just found his bags.
• Bitcoin dropped by 4.5% around the same time the news hit the internet.

50 Bitcoin (BTC) from February 2009 has just moved and speculation continues to grow as to who owns the funds. Twitter user Joseph Young, was one of the first to notify Crypto Twitter

50 BTC moved in Two Transactions

The transaction highlighting the movement of the funds is available on the blockchain and it shows the Bitcoin was moved in two transactions to two different addresses. The screenshot detailing the transfer of the funds can be found below.

The popular Whale Alert bot, also captured the transaction of 40 BTC as can be seen in the tweet below.

Crypto Personalities Debate on Who The 50 BTC Belongs To

The CEO and founder of Binance, Changpeng Zhao, responded to the Whale Alert by joking that he once rejected Satoshi Nakamoto’s KYC application. He also welcomed back the owner of the funds on the allusion that they had been on the sidelines for over a decade.

Damn, shouldn’t have rejected that Satoshi Nakamoto KYC on @binance

today. (Joking) Welcome back, Satoshi! Or whoever that OG is.

@jgarzik Who was mining back then? You probably know them all, right?

Both tweets by CZ have since been deleted and replaced by the following tweet.

Bitcoin Takes a Dip on the News of the Movement of 50 BTC from 2009

Further checking the charts, we realize that Bitcoin (BTC) experienced a brief dip when news hit the internet that the 50 BTC from 2009 was moving. At the time of writing this, the dip has turned into a crash with BTC now trading around the $9,300 support level. Since the news broke, Bitcoin has dropped from a value of around $9,770 to its local low of $9,326. The screenshot below gives a better visual of the situation on the 10 minute BTC/USDT chart.

However, one can argue that Bitcoin was headed to lower levels as postulated in our early analysis of a Golden Cross on the Daily BTC/USD chart. This dip might just be the beginning of a bear cycle that could have Bitcoin retesting $8,500.

(Feature image courtesy of Unsplash.)