In the third major instance this year, a large amount of Bitcoin that was mined in 2010 has been moved from old addresses to new Bech32 segwit addresses.
In October The Daily Chain reported on the second instance of dormant Bitcoin being moved from old addresses, where more than 1000 BTC was moved anonymously.
Kirill Kretov, Software developer and cryptocurrency trader working for LAZGroup, explained how 20 wallets containing 50 BTC each systematically transferred the holdings, which had never been touched since they were mined in 2010.
The trader and developer said that his team at LAZGroup has kept a keen eye on a number of different wallets and big transactions on the Bitcoin blockchain, allowing them to flag interesting movements of BTC.
For a third time this year, Kretov has identified more legacy Bitcoin being moved from dormant addresses.
Another 20 wallets awake
As Kretov revealed in a LinkedIn post on 7 November, another 20 wallets that contained Bitcoin mined a decade ago moved 1000 BTC in separate transactions.
“This time they have 129 output, where the maximum amount is 30 BTC, but the majority of addresses received 10 BTC,” Kretov told the Daily Chain in correspondence on LinkedIn.
The developer also noted that a single transaction of 50 BTC from a separate address that received mined BTC in 2010 occurred just hours before the 1000 BTC movement.
A single Bitcoin mined in 2010 was worth less $0.1 and the addresses that received newly minted tokens received 50 BTC – this was the original block reward before the first halving took place in 2013.
The current price of Bitcoin sees 50 BTC worth around $11,9 mln.