Rare Movement of Early Mined Bitcoin
A significant amount of bitcoin that was mined in the early days of the network has recently been transferred to trading platforms and custodians. This marks a rare movement of “Satoshi-era” coins. Specifically, over 1,000 bitcoins from a single early miner were consolidated into a wallet that now holds 1,028 BTC, valued at $40 million.
Key Points:
- Over 1,000 bitcoins from an early miner were moved to trading desks and custodians on December 4th.
- These bitcoins were mined between August and November 2010 and cost an estimated total of $100 to mine.
- The bitcoins were consolidated into a wallet that now holds 1,028 BTC worth $40 million.
- It is speculated that the early miner sold the 1,000 BTC to an over-the-counter (OTC) or custodian service.
- This activity coincides with the doubling of bitcoin prices in 2023 and increased optimism for wider adoption.
A large amount of bitcoin mined in the early days of the network was recently transferred to trading platforms and custodians, marking a rare movement of “Satoshi-era” coins. Over 1,000 bitcoins from a single early miner were consolidated into a wallet holding 1,028 BTC now worth $40 million. The coins were originally mined between August and November 2010 when Bitcoin was still in its infancy. It is speculated that the early miner sold the coins to over-the-counter (OTC) trading desks or institutional custodians that serve large investors. This activity comes as bitcoin prices have more than doubled so far in 2023, renewing optimism for wider adoption.
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