A dormant Bitcoin address holding 50 Bitcoin, valued at approximately $1.25 million, suddenly sprang to life on June 15 after being inactive since June 21, 2010. This month has seen only one 2010 block reward transfer, with the previous two taking place on May 22, 2023.
$1.25 Million in Bitcoin Moves After a Decade of Inactivity; 2023 Sees 6 Block Rewards From 2010 Spent
Although Bitcoin’s price has dipped by 7.5% this month, the address, established on June 21, 2010, opted to move its entire 50 BTC balance worth $1.25 million — the first such activity in over 12 years. Nowadays, transfers of 2010 block rewards are relatively rare and were more prevalent when the cryptocurrency’s value was twice its current size. Blockchain parser Btcparser.com caught the movement of the entire balance from the “13CFn” address.
Interestingly, data reveals that the owner didn’t spend the associated bitcoin cash (BCH) that is tied to the funds. The last ‘sleeping bitcoin’ transfers from 2010 happened 24 days prior on May 22, 2023. On that day, two block rewards amounting to a total of 100 BTC were moved. In April, a single block reward from 2010 was shifted without being detected by parsers due to an earlier dust transaction. Before April’s transfer, a separate transaction involving a 50 BTC block reward occurred on March 20, 202
In February 2023, a single block reward from 2010 was transferred. January did not see any transfers involving funds from that year. According to Blockchair.com’s privacy tool, the recent transfer of a block reward dating back to scored a “low” rating for privacy — a mere five points — with several identifiable issues in leakage such as a “sweep,” “same address in inputs,” and “various input types.”
The entirety of this BTC balance was transferred to one address before reaching another wallet, and then it finally split into two addresses holding 23.11 BTC and 26.88 BTC, respectively. In total, 2023 has seen six block reward transfers from the 2010 era — all after more than a decade of inactivity.
What do you think prompted the sudden activity of these long-dormant bitcoins? Share your thoughts and opinions about this subject in the comments section below.
by Jamie Redman via Bitcoin News
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