While the price of bitcoin is holding above the $21K per unit range, four bitcoin block rewards mined in 2010 were spent for the first time in over 11 years. The four block rewards were mined between September and October 2010 and the 200 bitcoin worth $4.27 million were transferred to an unknown wallet.
4 consecutive block rewards spent on June 24, data suggests spend was executed by a single entity
A large number of so-called “sleeping bitcoins” woke up from sleep as four block rewards were spent to the tune of block 742,183. The old coins spent on Friday were block rewards mined on the 15th, 16th, 26th and October 29, 2010. During this period, bitcoin miners received 50 BTC for each block found, unlike the 6.25 BTC per block reward miners get today. .
The block rewards moved came from four addresses that include “18cxWU,” “1BJmWW,” “1FVVcE,” and “1Hdo8D.” The 2010 spends were caught by the blockchain parser btcparser.com and in all four addresses, the owner did not spend the associated bitcoin cash (BCH) and bitcoinsv (BSV) as those coins still remain idle.
Blockchain explorers show that the 200 blank bitcoins were sent to a single address (bc1q92) and the coins remain dormant at the time of writing. A consecutive number of 2010 block rewards spent in the same block suggests that a single entity was likely the owner of the block rewards. The bitcoins mined in 2010 over a two-month period (September and October) also suggest that the expenditures were executed by a single entity.
Transfers Had Low Privacy Ratings, ‘Sleeping Bitcoin’ String Spends From 2010 Have Slowed
It seems as though the addresses were swept, and the transactions have a very low privacy rating for various reasons. Blockchair.com’s privacy-o-meter indicates that the final consolidation into bc1q92 had a privacy score of 0 out of 100. The transactions contained vulnerabilities like matched addresses, co-spending, and the same address is used in multiple inputs.
There haven’t been many block reward spending streaks in 2010 since 2010’s mega-whale appeared months ago in March. The mega whale of 2010 usually spent strings of 20 block rewards of that year in one go. Prior to the round of four 2010 block grants spent a week ago, the address “1Li8RF” spent 50 virgin bitcoins and “1LNqDK” spent 50 BTC 2010 about a month ago.
