A 2010 Bitcoin Whale Moves 100 BTC For The First Time In 11 Years


FILE PHOTO: A chain of block erupters used for Bitcoin mining is pictured at the Plug and Play Tech Center in Sunnyvale, California October 28, 2013. REUTERS/Stephen Lam/File Photo

A veteran miner has cracked their 2010 Bitcoin funds. Blockchain and crypto analysts have discovered 100 BTC mince transferred in June 2010 from two crypto wallets that had remained dormant for more than a decade.

Prior to the latest transaction, the addresses had seen no significant activity since each received a 50 BTC Coinbase reward nearly 11 years ago, with the exception of two incoming transactions worth about 0.00000547 BTC each sent to the wallets in the last six months.

This February 25 transaction appeared to combine these two mining addresses, suggesting that both wallets belong to the same owner. These two blocks were mined just a few hours apart on June 10, 2010.

Currently, bitcoin is trading above $50,000, giving the coins moved a combined value of nearly $5 million. Since bitcoin was trading for $0.08 at the time of mining, the value of Wal’s holdings has increased by 622,500 times.

About half of the coins were moved to a wallet on the German peer-to-peer exchange Bitcoin.de, which has been in operation since 2011. The remaining coins are currently in a newly created legacy address. Forked altcoins such as Bitcoin Cash (BCH) and Bitcoin SV (BSV) have yet to be peeled from BTC.

The coins mined in blocks 60365 and 60385 likely do not belong to Satoshi Nakamoto, who is believed to have mined over 1.1 million BTC. The movement of 2010-era coins is an unusual event. Researchers have identified only 18 transactions involving BTC in 2021 so far with entries dating back to July 2010 or before.

In May 2021, 50 bitcoins moved from a 2009 mining address, leading to exciting speculation the bitcoins may have belonged to Satoshi.

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