Satoshi-Era Bitcoin Worth Millions Just Moved After 14 Years of Inactivity

Satoshi-Era Bitcoin Worth Millions Just Moved After 14 Years Of Inactivity



Old school bitcoin holders are available again. Just days before the much-anticipated Bitcoin halving event, fictional creator Satoshi Nakamoto is still alive and kicking back with a wallet containing a piece of the cryptocurrency. Finally, after 14 years, he moved the stash for the first time.

Data on the chain It shows The wallet moved 50 BTC – today's value is $3.2 million. Most of that went to Coinbase addresses.

Blockchain sleuths at the Twitter (aka X) address in 2015. On April 22, 2010, there was a miner who released the new coins. Since then, the BTC has been sitting in a wallet and hasn't moved – until today.

On-chain data shows that 50 BTC of Bitcoin was delivered to the wallet as a block reward when it was traded per coin or less—meaning that the miner has made impressive profits ever since.

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Miners are rewarded by producing new coins. This unique address would receive 50 new coins when Bitcoin was in its early days. In the year In 2010, bitcoin mostly traded at less than $0.10 per coin, but peaked at $0.30 by the end of the year, according to data from Investing.com.

Early data from CoinMarketCap, meanwhile, shows it was worth more than $0.07 in July 2010. In April of that year, the price may have been lower, but even at that July mark, the holdings of this wallet would have appreciated by about 87,000,000%.

Bitcoin halving is scheduled for Saturday. The quadrennial event will halve Bitcoin mining rewards, from 6.25 BTC to 3.125 BTC for each block they process. It is currently expected to take place on April 20.

This is expected to lead to a significant shortage of coins in the market. Miners also have to work harder, which means that only the strongest and most efficient operations in the industry participate in maintaining the network.

The price of Bitcoin After taking a beating over the weekend, it is currently at $64,648 according to CoinGecko. It is now nearly $74,000 per penny, well below the March highs.

Edited by Andrew Hayward.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and are not financial, investment or other advice.

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