While bitcoin’s price has neared the all-time price highs captured in February, old coins that have sat idle for many years have started to wake up from slumber. On March 4, at block height 673,162, a block reward worth 50 bitcoin from 2010 was transferred for the first time in over a decade. Also, a whale from 2013 has emerged from slumber as well, after 10,000 bitcoin that sat idle for over seven years was transferred on March 11.
2010 Block Reward Worth $2.8M Spent Last Week
One thing is for sure, a great number of crypto proponents have always been fascinated by early adopters, old-school miners, and large bitcoin whales. In the crypto space, it’s not uncommon for an owner to hold coins for over five years, to even ten years without spending any amount of funds.
In 2020 and into 2021, Bitcoin.com’s newsdesk with the help of Btcparser.com has been following an old-school mining whale who has transferred 9,000 bitcoins from 2010 block rewards since March 11, 2020. Bitcoin.com has also been tracking a great number of 2011 block reward spends that have been caught by blockchain parsers.
Following the report on the whale who has spent 9,000 BTC, on March 4, 2021, a single block reward from 2010 (50 BTC) was spent after over a decade of sitting idle. The block explorer Blockchair’s privacy-o-meter shows that the spender leveraged a bit of discrepancy when spending these coins worth over $2.8 million using today’s BTC exchange rates.
However, this old-school miner doesn’t seem to be associated with the mega-whale from 2010 Bitcoin.com has been tracking since mid-March 2021. Out of the 50 BTC, 37.99981154 BTC still sits in an address unspent to this day. Meanwhile, 12 BTC from the old 2010 block reward’s outputs was shuffled up into a number of fractions.
A 2013 Bitcoin Whale Flexes 10,000 Bitcoin That Sat Idle for 7 Years, Coins Remain Unspent
On March 11, 2021, another interesting thing happened as a BTC whale from seven years and seven months ago, started consolidating massive amounts of BTC. With help from Btcparser.com, it was revealed that 10,000 BTC ($570M) from 2013 was consolidated by a whale into two separate addresses.
Interestingly, both of the two massive moves of 5,000 BTC each stemmed from a collection of coins gathered on August 11, 2013. This means the 5,000 BTC spent at block height 674,085 and the 5,000 BTC transferred at block height 674,159 stemmed from the same owner. The consolidation of 2013 BTC from August, currently…