An amount of 50 Bitcoin (CRYPTO: BTC) ($3.3 million) that had sat untouched for nearly 14 years moved earlier today, suggesting an early Bitcoin miner is either consolidating their wallets or cashing in. The bitcoin was mined in April 2010, as noticed by onchain analysts Lookonchain, when the mining reward for each block was 50 BTC (these days it's a little over 6 BTC and about to drop even lower). The wallet saw little activity from them on, only receiving a tiny amount of bitcoin in 2020, typically called "dust." This changed at around 3 a.m. ET today, when a transaction was made, moving 17 BTC ($1.1 million) to one wallet and 33 BTC ($2.2 million) to another.
Read the full story at The Block.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!