120 Bitcoin Block Rewards from 2010 and 2011 Woke Up This Year – News Bitcoin News

On February 25, onchain analysts noticed two 2010 block rewards that were transferred after sitting dormant for over a decade. A lot of old blocks have been spent in 2021, and after the large strings of 2010 block rewards spent on January 3rd and 10th, another massive string of 20 block rewards from 2010 were moved on the 25th. In addition to these old bitcoin moves, block rewards from 2011 have started to wake in great numbers as well.

80 Block Rewards from 2010 Spent This Year, 4,000 Bitcoin Worth $188 Million

For a good portion of 2020 and into 2021, news.Bitcoin.com and a small group of onchain researchers have been combing the Bitcoin (BTC) network for old-school spends. The technical term “spend” or “spent” simply means the bitcoins moved from one address to another single address or group of addresses. It doesn’t necessarily mean the person has relinquished ownership of the bitcoins, but most of our 2020 and 2021 discoveries look as though they have been sold on exchanges.

At block height 671,986, a group of two 2010 block rewards with 100 BTC was spent on February 25, and a number of publications reported on the movement. What hasn’t been noticed formally, is the massive amount of 2010 spends this year, and the large amount of 2011 movements as well. Although members of news.Bitcoin.com, Btcparser.com, and Russian blockchain researcher Issak Shvarts have been investigating these old-school spends thoroughly.

Following the reports of the decade-old, 20 block reward spend on the 12th anniversary of the Bitcoin network, news.Bitcoin.com also noticed a massive 20 block spend from 2010 spent on January 10. Fifteen days later, and possibly the…

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