$12M in ‘Satoshi Era’ Bitcoins Move: 21 Block Rewards from 2010 Spent After a Decade of Slumber

On early Sunday morning around 1:38:02 a.m. (New York time), approximately 20 blocks with coinbase rewards from 2010 were spent in one block. 1,000 BTC was then consolidated into a single address before moving again. The massive movement of the decade-old ‘sleeping’ bitcoins was caught by an onchain transaction parser and the coins were spent in block 652,204.

** Update, approximately 9.99999943 BTC or $114k worth of the 1,050 bitcoins from 2010 were sent to the Free Software Foundation.

Miner Spends 21 Blocks from 2010 Following the Same Pattern That Happened the Day Before Black Thursday

Similar to the big move the day before March 12, the miner also transferred one last 2010 block mined at block height 652,229, to finish off the group of transactions making it a total of 21 consecutive 2010 block rewards moved.

What we know so far is quite a bit of ‘Satoshi era’ or so-called ‘sleeping’ bitcoin rewards from 2010 moved during the early morning hours on Sunday morning. The action was caught by the application Btcparser.com, as a bitcoin miner or miners decided to spend approximately 21 blocks from 2010 around 1:38 a.m. (ET).

$12M in 'Satoshi Era' Bitcoins Move: 21 Block Rewards from 2010 Spent After a Decade of Slumber
The onchain parser Btcparser.com caught the action on Sunday morning on October 11, 2020. Btcparser’s application shows three types of parsed data obtained from the Bitcoin (BTC) blockchain. The first parser combs the BTC blockchain for activity related to 64,529 addresses stemming from 2009 through 2017.

The 2010 blocks spent in total on Sunday held 1,050 BTC or $11.9 million at current BTC exchange rates. News.Bitcoin.com was also the first to catch the spending of 21 blocks from 2010, that a miner or group of miners, transferred the day before March 12, 2020, otherwise known as ‘Black Thursday.’

The movement of ‘sleeping’ bitcoin rewards is not a regular occurrence, and especially coins that were mined ten years ago that have sat dormant ever since. The movement on October 11, 2020, is also quite odd because the person or…

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