The owner of the address mined the coins early in the development of the network, at the time they were worth about $100

Unknown wallet transfers $43,28 million worth of bitcoins after 13 years of inactivity

07.12.2023 - 15:13

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1 min

What’s new? An early Bitcoin miner first transferred coins mined 13 years ago to trading and custodian sites, CryptoQuant analysts reported. The user received more than 1000 bitcoins for participating in the network between August and November 2010, when they were worth about $100. Since then, the assets have grown in value 420 080 times and are valued at $42,08 million at the current Binance exchange rate.

CoinDesk’s material

What else happened? The mined coins belong to the “Satoshi era,” so-called the period from 2009 to 2011, when the anonymous creator of the first cryptocurrency, known as Satoshi Nakamoto, was active on online forums.

After analyzing the structure of transactions, CryptoQuant analysts concluded that the early miner moved coins to over-the-counter (OTC) trading platforms or platforms for storing digital assets.

Cases of moving coins previously inactive for such a long period are quite rare, however, three such transactions were already recorded earlier this year.

Thus, on August 14, the wallet “sleeping” for almost 13 years moved 1005 bitcoins worth $29,75 million.

On July 22, an unknown person transferred 1037 BTC for the first time in 11 years. The coins have appreciated 7402 times to $37,8 million since they were received in April 2012.

In April, after 12 years of inactivity, an unidentified address transferred $11 million worth of coins.

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