A large amount of bitcoin mined in the early days of the network was recently transferred to trading platforms and custodians, marking a rare movement of “Satoshi-era” coins. Over 1,000 bitcoins from a single early miner were consolidated into a wallet holding 1,028 BTC now worth $40 million.
Keypoints
- Over 1,000 bitcoins from an early miner were moved to trading desks and custodians on Dec 4th
- These bitcoins were mined between Aug-Nov 2010 and cost an estimated total of $100 to mine
- The bitcoins were consolidated into a wallet that now holds 1,028 BTC worth $40 million
- It’s speculated the early miner sold the 1,000 BTC to an OTC or custodian service
- This activity comes as bitcoin prices have doubled in 2023 amid optimism for wider adoption
The coins were originally mined between August and November 2010, when Bitcoin was still in its infancy. With far less competition than today, the entire batch likely cost…
