A veteran miner broke open their stock of Bitcoin from 2010, with crypto analysts seeing 100 BTC transferred from two wallets that had been inactive for over a decade.
Prior to today’s transaction, the addresses had seen no activity since they each received a 50 BTC Coinbase reward nearly 11 years ago, except for two incoming transactions worth only 0.00000547 BTC sent to the wallet in the past six months .
The February 25 transaction combined the two mining address exits, indicating that both addresses belong to the same owner. The two blocks were mined just hours apart on June 10, 2010.
Bitcoin is currently trading at $ 49,800, giving the coins a combined value of nearly $ 5 million. With BTC trading for $ 0.08 when the coins were mined, the whale’s holdings have increased in value 622,500 times.
Some old coins have been moved today (100 BTC as of June 2010).
It is very rare to see pre-GPU era bitcoins moving, it has only occurred dozens of times in recent years.
And no, it probably isn’t Satoshi. pic.twitter.com/0jZXnmWUes
– Antoine Le Calvez (@khannib) February 24, 2021
About half of the coins have been moved to a wallet of the German peer-to-peer exchange Bitcoin.de, which has been in use since 2011. For now, the remaining coins are at a newly created old address.
Forked altcoins such as Bitcoin Cash (BCH) and Bitcoin SV (BSV) have not yet been peeled from the BTC.
The coins, mined in blocks 60365 and 60385, probably don’t belong to Satoshi Nakamoto, who is said to have won at least 1.1 million BTC.
The movement of 2010-era coins is an unusual occurrence, with researchers so far identified only 18 transactions with BTC with inputs from July 2010 or earlier in 2021.
In May 2020, 50 Bitcoin moved from a 2009 mining address, sparking excited speculation that the BTC may have belonged to Satoshi.