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Satoshi Era Bitcoin Awakens: 2010 Block Reward Moves 3 Days After Mega Whale Activity

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Satoshi Era Bitcoin Awakens: 2010 Block Reward Moves 3 Days After Mega Whale Activity

After the notable appearance of a mega whale on December 4, another block reward from the Satoshi era was moved on December 7, at a block height of 820,156. This transaction marks the 21st block reward from 2010 to be spent in the initial week of December.

Sleeping Bitcoin Stash Stirs After a Decade

On Thursday, December 7, 2023, a dormant stash of 50 bitcoin (BTC) stirred into action for the first time in over ten years. This movement of the so-called ‘sleeping bitcoins’ was detected by the blockchain parsing platform Echoing the activity seen on December 4, where a series of 20 blocks were utilized, the original address divided the funds between two separate Pay-to-Script-Hash (P2SH) addresses.

The originating address, known as “18JkK,” was established on July 24, 2010. From this, it transferred 1 BTC to the address labeled “32Xas” and a further 48.99 BTC to “3DD4X.” Nevertheless, the transaction was conspicuous in terms of privacy, garnering a low privacy score of 5 out of 100 from Blockchair’s privacy analysis tool. This was attributed to identifiable issues like matched inputs and outputs.

While the transfer of 50 BTC may seem modest compared to the 1,000 BTC moved by the spender of 20 block rewards on December 4, its current value of $2.18 million is striking, especially when contrasted with its July 2010 worth of just $15. Moreover, instances of moving bitcoins from 2010 have become notably scarce in 2023, with more frequent sightings of 2012-era bitcoins.

The specific block reward, number 69,986, spent on that Thursday marked its first movement in over a decade. Importantly, it wasn’t part of the collection of block rewards linked to Bitcoin’s creator, Satoshi Nakamoto. Notably, Satoshi was active during that July but departed the community permanently in December 2010.

What do you think about the 2010 block reward awakenings in December? Share your thoughts and opinions about this subject in the comments section below.

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