As Bitcoin price nears all-time highs it hit in February, old coins that have been idle for many years are waking up from their sleep. On March 4, a block reward worth 50 Bitcoin from 2010 was transferred at block height 673,162 for the first time in over a decade. A 2013 whale also emerged from sleep after 10,000 bitcoins were transferred on March 11th that had been idle for seven years.
2010 $ 2.8M Block Reward issued last week
One thing is for sure, a large number of crypto advocates have always been intrigued by early adopters, old school miners, and big bitcoin whales. In the crypto space, it’s not uncommon for an owner to hold coins for over five years or even ten years without spending any money.
In 2020 and through 2021, Bitcoin.com’s news desk, using Btcparser.com, tracked an old-school mining whale that has transferred 9,000 bitcoins from the 2010 block rewards since March 11, 2020, the number of 2011 block reward spend generated by blockchain parsers were caught.
Old school bitcoin whales are on the move. Last Thursday, a reward created on August 9, 2010 with 50 Bitcoin blocks at block height 673,162 was issued and distributed to several addresses. Numerous old school bitcoin miners from 2010 and 2011 have emerged in the past few months.
According to the report on the whale, which spent 9,000 BTC on March 4, 2021, a single 2010 block reward (50 BTC) was issued after being idle for over a decade. The block explorer’s Blockchair Privacy O-Meter reveals that the donor took advantage of a bit of discrepancy in issuing those over $ 2.8 million worth of coins at today’s BTC exchange rates.
However, this old school miner does not appear to be associated with the 2010 mega-whale that Bitcoin.com has been tracking since mid-March 2021. Of the 50 BTC, 37.99981154 BTC is still in an address that has not yet been issued. Meanwhile, 12 BTC from the old 2010 block reward spending has been mixed up into a number of fractions.
A 2013 bitcoin whale flexes 10,000 bitcoin that has been idle for 7 years. Coins remain unused
Another interesting thing happened on March 11, 2021 when a BTC whale began consolidating massive amounts of BTC seven years and seven months ago. With the help of Btcparser.com, it was found that 10,000 BTC ($ 570 million) from 2013 was merged into two separate addresses by a whale.
On Thursday, March 11, 2021, a 2013 whale consolidated 10,000 BTC in two separate addresses with 5,000 coins in each wallet.
Interestingly, the two massive moves of 5,000 BTC each came from a collection of coins collected on August 11, 2013. This means that the 5,000 BTC that was spent at block height 674,085 and the 5,000 BTC that was transferred at block height 674,159 came from the same owner. The consolidation of 2013 BTC from August is currently idle in two specific addresses with 5,000 BTC each.
There is also another transaction from 2013 with similar spending heuristics. It’s safe to assume that yesterday’s 10,000 BTC move was actually the same owner, and it’s obvious that the coins are grouped into two addresses as of August 11, 2013.
It is not certain that this wallet belongs to the 2013 Bitcoin whale mentioned above, which issued 10,000 Bitcoin yesterday. However, the whale, which owns 2,189 BTC, used the exact same spending pattern as the 2013 whale with 10,000 coins. In addition, this comes from a collection that was compiled at the end of July 2013 and is very close to August 11, 2013.
In particular, the older transaction, which issued 2,189 BTC on February 24, 2021, suggests that it has a very similar pattern to the 10,000 bitcoin behemoth that issued coins seven years ago yesterday. Interestingly, the coins are from a whale that appeared in 2013, but only a few days earlier. The $ 123 million worth of BTC using today’s BTC exchange rates has also been idle since the day it was postponed last month.
If the 2013 whale is the same entity, roughly 12,189 BTC is patiently waiting to move again. If not, then there are two separate and very large whales; one with 10,000 coins and the other with a nice sum of 2,189 BTC.
What is certain is that the high prices Bitcoin (BTC) has seen in recent weeks have caused old school owners to wake up their sleepy coins by either consolidating them or spending them on an exchange. The company, which has 10,000 BTC, had already consolidated the coins back in August 2013 when a single bitcoin (BTC) swapped hands for just one touch for over $ 100 per bitcoin.
What do you think of the 2013 whale consolidating 10,000 BTC on Thursday? Let us know in the comments below.
Tags in this story
$ 10000 BTC, 2010, 2013, 2013 Bitcoins, Awoken Bitcoin, Bitcoin, Bitcoin (BTC), Bitcoin Whale, Block Rewards, BTC Whales, Decade Old, Miners, Mining Reward, Old Bitcoin Movement, Old BTC Movement, Sleep, whale, whale
Photo credits: Shutterstock, Pixabay, Wiki Commons, Blockchair,
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