Bitcoin whale from 2010 moves 100 BTC for first time in 11 years

0
55

A seasoned miner has broken into his 2010 bitcoin stash. Crypto analysts found that 100 BTC was transferred from two wallets that had been inactive for more than a decade.

Prior to today’s transaction, the addresses hadn’t seen any activity since receiving a Coinbase Reward of 50 BTC each almost 11 years ago, with the exception of two incoming transactions worth only 0.00000547 BTC each that occurred in the past six months the wallets were sent.

The February 25 transaction combined the two mining address outputs so that both addresses belong to the same owner. The two blocks were dismantled on June 10, 2010, just a few hours apart.

Bitcoin is currently trading for $ 49,800, which equates to a total value of the coins of nearly $ 5 million. Trading BTC for $ 0.08 when the coins were mined, the value of whale populations has increased 622,500 times.

Some old coins moved today (100 BTC as of June 2010).

It is very rare for bitcoins from before the GPU to move. This has only happened a dozen times in the past few years.

And no, it probably isn’t satoshi. pic.twitter.com/0jZXnmWUes

– Antoine Le Calvez (@khannib) February 24, 2021

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 initially in a newly created legacy address.

Bifurcation altcoins like Bitcoin Cash (BCH) and Bitcoin SV (BSV) have not yet been withdrawn from BTC.

The coins mined in blocks 60365 and 60385 are unlikely to belong to Satoshi Nakamoto, who is said to have mined at least 1.1 million BTC.

The movement of coins from the 2010 era is an unusual occurrence. Researchers identified only 18 transactions in BTC with submissions from July 2010 or earlier in 2021.

In May 2020, 50 bitcoin moved from a mining address in 2009, sparking excited speculation that the BTC may have belonged to Satoshi.