Early Bitcoin Miner Transfers 50 BTC After 14-Year Dormancy
A Bitcoin wallet from the early Satoshi era, dated 2010, recently became active, sending 50 Bitcoin to Binance.
The wallet belongs to a BTC miner who earned 50 BTC in July 2010, when each BTC was valued at around $0.05, totaling just $2.5 at the time.
A miner wallet woke up after being dormant for 14 years and deposited 50 $BTC($3.05M) to #Binance 7 hours ago.
The miner earned 50 $BTC from mining on July 14, 2010.
Address:
1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm pic.twitter.com/toKmBfbUne— Lookonchain (@lookonchain) June 27, 2024
This miner successfully mined a block when Bitcoin’s network was less competitive.
Sending cryptocurrencies to centralized exchanges is often seen as a bearish sign, associated with selling.
READ MORE: Massive Shift Expected: Trillions to Move from Bonds to Bitcoin, Gold, and Stocks
In recent times, several long-dormant Bitcoin wallets from the Satoshi era have shown activity, either transferring their BTC or selling on exchanges.
Originally, Bitcoin was designed by Satoshi Nakamoto to allow mining on personal computers, but mining has since evolved into large-scale operations with high competition and difficulty.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
