Bitcoin entity combines $140 million of BTC mined in 2010 into a single wallet
An unknown individual or entity consolidated 2,000 bitcoin that they received as mining rewards in 2010. While this amount of bitcoin was worth $600 when it was mined, it would fetch just shy of $140 million at current prices.
The complex transaction took place on March 26, as noted by developer mononautical on X. It moved 40 sets of mining rewards, each amounting to 50 bitcoin, into one wallet.
Bitcoin BTC -1.32% miners receive rewards for mining blocks on the Bitcoin blockchain. Early on, each block would reward the miner with 50 bitcoin. However, every four years, the rewards are cut in half in a process known as the halving . The next bitcoin halving will see block rewards drop from 6.25 BTC to 3.125 BTC. It is currently expected to take place on April 20 , although that is subject to change.
At the time that these blocks were mined by this unknown entity, the bitcoin rewards were worth a total of $600 or so. These days, that amount of bitcoin is worth nearly $140 million, according to The Block's Bitcoin Price Page .
Mononautical noted, "Imagine hodling for 14 years as the value rockets from a few hundred dollars to $140 million."
CryptoQuant founder and CEO Ki Young Ju added that the consolidation of funds indicates a "sell-side liquidity crisis waking up old Bitcoin."
Moving large amounts of bitcoin
Over the weekend, there was also another notable Bitcoin movement. The fifth richest Bitcoin address moved $6 billion of bitcoin to three new addresses.
Prior to that, in January, someone sent 26.9 bitcoin (worth $1.2 million at the time) seemingly from Binance to the Bitcoin network’s Genesis wallet — which they won't be able to get back. In November 2023, three bitcoin whale addresses, dormant since November 2017, transferred 6,500 bitcoins ($230 million at the time) to new addresses.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
20x in 3 months: Does ZEC's "Bitcoin Silver" narrative hold up?
You bought ZEC, I bought ETH, and we both have a bright future.

Morning Brief | Trump hopes to make the United States a "Bitcoin superpower"; crypto trading app Fomo completes $17 million Series A financing; how Ripple supports a $4 billion valuation
Overview of major market events on November 6th.

Metis Ecosystem x402 New Experiment: 500 million BANG tokens minted out, how does GMPayer drive cross-chain autonomous payments for AI Agents?
What are the core advantages?

Review of the MMT Short Squeeze Incident: A Carefully Orchestrated Money-Grabbing Game
From hyping up to attract new users, pre-market warnings of breaking issue prices, aggressive rallies liquidating short positions, to a sharp crash wiping out long positions, this collapse not only burst the speculative bubble but also exposed deeper issues of manipulation and trust crisis within the industry.

