Home | Crypto News | After 13 Years Of Dormancy, A Rare 2010 Bitcoin Block Reward Emerges

After 13 Years Of Dormancy, A Rare 2010 Bitcoin Block Reward Emerges

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The first spending of dormant Bitcoin from that year occurred this month on July 24, 2023, the first block reward transfer in 13 years. Nine such block rewards from the 2010 era have been used thus far this year, resulting in the transfer of 450 Bitcoins.

An uncommon 2010 block reward was used on Monday to send 50 Bitcoins to an arbitrary address, according to btcparser.com. Although 50 Bitcoins may not seem like a lot, they are worth $1.4 million, and spending Bitcoins from 2010 is now far less usual. The 50 Bitcoins were also almost worthless at the time because it took until July 17, 2010, for Bitcoin to reach the $5 milestone.

A particular Bitcoin address was used to receive the funds, and that was where they stayed after that. The transfer received a privacy score of 5 on a scale of 100, with three concerns mentioned, according to Blockchair’s privacy tool, which classified the level of privacy as “low.” The monies being swept, the inputs having different types and several instances of the same address were the concerns.

The most recent prior transactions from this timeframe occurred on June 26, and the 2010 block reward payment on Monday was the ninth such spend this year. 100 Bitcoins were transferred throughout the course of two transactions on that day. Additionally, the fact that both block rewards were received on the same day, July 12, 2010, shows that the same person transferred both of them.

Nine transfers of 2010 block rewards have taken place thus far in 2023, although only eight of them were from new, dormant Bitcoin rewards. A 50-Bitcoin block reward was paid in a transaction that happened on April 22, 2023, however the address had also spent a minor sum, or 0.00001094 BTC, from the wallet on August 10, 2021. The remaining eight transactions, including the one on Monday, concerned entirely untouched block rewards that had lain dormant for 13 years.

Jay Solano

Jay Solano

Jay is a crypto and NFT enthusiast dedicated to exploring the dynamic world of digital assets. As a crypto blog writer, he is sharing his knowledge of the latest trends, breakthroughs, and investment opportunities in the blockchain world.

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