The wallet network associated with Bitcoin’s pseudonymous creator Satoshi Nakamoto has received new transfers of approximately $5,000 in the last 24 hours. The increase in question was not caused by the rise in Bitcoin price, but by a user sending funds directly to these addresses.
Source of transfers and route followed
According to Arkham data, the transactions were not done all at once. The sender first made small test transfers of a few cents, then made a final transfer of approximately 0.033 BTC, around $2,170 at the current value. The total flow appeared to come from Revolut’s shared hot wallet. Due to this structure, the identity of the person performing the transaction cannot be distinguished among the platform’s large user base.
The addresses where the funds arrive belong to a large set of wallets known as Patoshi addresses in the crypto community. This network is associated with mining activities in the early periods of Bitcoin and has long been traced as the structure controlled by Satoshi Nakamoto.
Mini dictionary: Patoshi is the name given to the unique mining pattern seen in the first blocks of Bitcoin. Researchers think this pattern indicates that a significant portion of the early blocks may have been mined by a single entity or a coordinated structure.
These addresses associated with Satoshi Nakamoto contain 1.11 million BTC, and these assets have not been moved for years.
Size of assets in wallets
1.11 million BTC is currently held in addresses connected to the Patoshi network. Based on Bitcoin’s price of around $64,364, the total value of these assets reaches approximately $71.1 billion. It was also calculated that this total would rise to over $110 billion in strong market rallies in 2024 and 2025.
The main reason why these addresses attract attention is that the Bitcoins inside them have not moved for many years. The real critical topic for the market emerges here. Investors are closely watching whether this large reserve attributed to Satoshi will begin to be spent.
Why can’t it be undone?
The most striking aspect of this latest transfer is that the funds sent are effectively one-way. Due to the initial block structure of Bitcoin and the fact that the private keys associated with these addresses have never been used since Satoshi’s disappearance, it is accepted that the amounts sent to these wallets cannot be technically recovered.
Therefore, each new transfer to Satoshi’s wallet practically turns into a permanently inaccessible balance. In other words, the sender loses the ability to reuse these funds.
The decisive factor for the market is not the sending of money to these addresses, but the fact that the huge reserve, which has been untouched since 2009, is not started to be spent.
Possible causes
On-chain transaction logic and similar examples point to three main possibilities behind this submission. The first possibility is that it was a symbolic gesture. From time to time, users send small or large amounts to these addresses as a thank you to the creator of Bitcoin. A transfer worth $1.2 million was recorded in 2024, and another transaction worth $150,000 was seen in February this year.
The second possibility is the search for visibility. Since Satoshi’s wallet network is constantly monitored by automatic tracking systems, a transaction sent to these addresses can quickly stand out on data platforms and news feeds. The third and simpler explanation is that an address copying error was made during the manual transfer.
The incident did not have a direct impact on the crypto market. As long as the wallets thought to be linked to Satoshi remain inactive, transfers made by users to these addresses remain as unusual transactions that attract attention in on-chain records.
