Satoshi-Era Bitcoin Moves for First Time in 16 Years, Galaxy Says

• Bitcoin that had sat untouched since July 30, 2010, moved on Wednesday when 100.02 BTC left a single address, according to Galaxy Research.

• The coins were worth about $8.55 million when they moved, against a cost basis of close to zero, Galaxy said.

• Some X users pointed to later activity at the address, while Galaxy's Alex Thorn said the alert referred to the coins, not the address.

A Bitcoin (

) address holding coins first received in July 2010 moved 100.02 BTC on Wednesday, the first time those coins had moved in more than 16 years, according to Galaxy Research.

The coins were worth about $8.55 million when they moved against a cost basis of close to zero, according to Galaxy, which put the gain at more than 108 million percent.

"100.02 BTC ($8.55M) of UTXOs untouched since first received 2010-07-30 (16.2y ago) — just moved in block 970379," Galaxy Research

on X.

The transfer was confirmed around 18:52 UTC on Wednesday, according to Galaxy, from an

that had held the coins since the period when Bitcoin creator

was still active.

Not everyone accepted the label. Some X users questioned it, saying the address had recorded transactions in more recent years.

“[T]he coins were dormant. [T]he entire text of the alert refers explicitly to UTXOs," Alex Thorn, head of firmwide research at Galaxy,