#BTC110KToday? The phrase "Satoshi Era Bitcoin Miners" refers to those who mined Bitcoin in its very early stages when the rewards for each block were much higher (50 Bitcoin per block initially)🤩🤩🤩 and the mining difficulty was much lower😌😌. These early miners, including Satoshi Nakamoto himself (the anonymous inventor of Bitcoin)😎😎😎, are believed to hold vast amounts of Bitcoin🤩🤩🤩.
Motives for Holding Bitcoin😎😎
Despite record highs in Bitcoin's price over the years, a significant number of these coins, especially those associated with old addresses believed to belong to "Satoshi Era" miners, have not moved. There are several potential reasons for this holding:
✅Long-Term Vision: Many of these early miners strongly believe in Bitcoin's original vision as "digital gold" and a store of value in the long term, and they may not see current prices as peak value to sell their holdings.
✅Incredible Wealth: For some, the amounts they hold in Bitcoin may be so large that they do not need to sell them to meet their financial needs.
✅Anonymity: Some of these addresses may be associated with individuals who prefer to remain anonymous, and moving large amounts of Bitcoin could draw attention to them.
✅Loss: Some of these wallets may have lost their private keys or been damaged, thus making the coins within them inaccessible.
✅HODL Strategy: This is a popular strategy in the cryptocurrency community that means "Hold On for Dear Life" (or not selling), and its proponents believe that the value of Bitcoin will continue to rise in the long term.
Holdings Size
It is estimated that Satoshi Nakamoto alone holds about 1.1 million Bitcoin distributed across nearly 22,000 addresses, and these coins have not been moved since the project's inception. In addition to Satoshi, there are other addresses believed to belong to early miners that contain large amounts that have not been touched.
Although some wallets dormant since the "Satoshi Era" have shown activity from time to time (where some millions of dollars worth of Bitcoin were transferred from dormant wallets), the vast majority of these coins remain in their places, adding to the scarcity of Bitcoin and contributing to the ongoing interest in its unique story🤩🤩🤩.
