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A veteran miner opened up his 2010 Bitcoin stash, as crypto analysts spotted 100 BTC transferred from two dormant wallets for more than a decade.
Prior to today’s transaction, the addresses had seen no activity since receiving a reward of 50 BTC Coinbase each almost 11 years ago, with the exception of two inbound transactions worth only 0.00000547 BTC each that have been sent to wallets in the last six months.
The February 25 transaction combined the two mining address outputs, indicating that both addresses belong to the same owner. The two blocks were mined just a few hours apart on June 10, 2010.
Bitcoin is currently trading for $ 49,800, giving the coins a combined value of almost $ 5 million. With BTC trading at $ 0.08 when the coins were mined, the whale’s holdings increased 622,500 times.
Some old coins have been moved today (100 BTC as of June 2010).
It is very rare to see bitcoins from the pre-GPU era move, this has only happened dozens of times over the past few years.
And no, it’s probably not Satoshi. pic.twitter.com/0jZXnmWUes
– Antoine Le Calvez (@khannib) February 24, 2021
About half of the coins have been moved to a wallet owned by the German peer-to-peer exchange Bitcoin.de, which has been operating since 2011. For now, the remaining coins are in a newly created legacy address.
Forked altcoins such as Bitcoin Cash (BCH) and Bitcoin SV (BSV) have not yet been removed 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 2010 era coins is a rare event, with researchers only identifying 18 transactions involving BTC with entries from July 2010 or earlier in 2021 so far.
In May 2020, 50 Bitcoin left a 2009 mining address, triggering enthusiastic speculation that BTC may have belonged to Satoshi.
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