While BTC’s Price Slid Lower, a Miner Spent an 11-Year-Old Block Reward from 2010 Worth $1.8M


Following the large string of block rewards from 2010 spent in November 2021, no block rewards from that year were discovered in December and throughout the next month up until January 21. On Friday, an 11-year-old block reward originally mined on November 22, 2010, was transferred for the first time since being idle for more than a decade.

Block 93,276: The first block of 2010 transferred to 2022

The first recorded block reward for 2010 was transferred on Friday, after nearly two months of zero block reward spending for 2010. The block reward of 50 BTC was worth approximately $1.8 million at the time of the transfer. The owner of the BTC address, however, has not spent the corresponding bitcoin cash (BCH) and bitcoinsv (BSV), which equates to just under $20,000 for the unspent 100 coins.

The very last 2010 block reward spends occurred when the mega whale spent 20 BTC block rewards with 1,000-decade-old bitcoins when BTC tapped an all-time price high. The 50 BTC spend on January 21, was split into two separate addresses as one contains 10 BTC and the other holds 40 BTC.

The transaction was sent with a very low privacy rating according to Blockchair statistics and the privacy-o-meter tool gives the transfer a score of 45 with matching addresses identified. Although there was not a large amount of global reward spending in 2010 until January 21, there was a number of spending in 2011.

There were 11 block rewards from 2011 transferred in November, eight block reward transfers in December, and one spend from 2011 so far this year. A single block from 2012 was spent this month, 15 block rewards from 2013, and six so far from 2014.

So far, seven blockchain awards from 2015 have been moved and about 14 awards from 2016 over the year. Data from bitquery.io indicates that the 50 BTC from 2010 may have gone to crypto asset exchange Coinbase, according to on-chain movements. 2010 bulk spend was captured by Btcparser.com and a chart from theholyroger.com’s ‘not Satoshi’s bags tracker’, shows a visual perspective.

While it’s been a long time since the last 2010 spend, the length of time between now and the last 2009 block reward spend was on May 20, 2020, or 612 days ago. That particular spend was unique because the BTC was issued a mere month after Satoshi Nakamoto launched the network.

The block reward 3,654 spent that day on May 20, 2020, was approximately 50 BTC which was sent to two addresses. An address with 40 BTC was recently spent seven months ago, on June 11, 2021, after being inactive for over a year.


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