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$1.4M in Bitcoin Remains Dormant – Curious Case of the 37-Day 2009 Block Reward Spent a Year Ago – Featured Bitcoin News

About 378 days ago, before the bitcoin bull market heated up, a unique block was spent stemming from a Coinbase reward created 37 days after the bitcoin network was launched. It appears that about ten coins from the block reward were sold to an exchange, but at today’s exchange rates 40 bitcoins worth $1.4 million are sitting unspent.

Since 2009 the last block reward was spent on May 20, 2020, approximately 40 bitcoins remain unused.

Around this time last year, a curious block was spent that sparked a great deal of speculation. On May 20, 2020, one unit spent a Coinbase bounty, which was minted on February 9, 2009. this was it widely considered it may be related satoshi nakamoto But this assumption has never been verified. What we do know is that this block reward was 3,654 and it was spent 627,404 blocks later at block height 631,058.

We also know that the only transaction associated with the mining of block 3,654 was the Coinbase reward. The transfer, which happened more than a year ago, saw the owner of the block 3,654 moves 10 B T c at one address and 40 B T c at another address. 10 B T c, which is worth $372k today, appears to have been sent to an exchange, e.g. data from Block Explorer shows notes from Binance Cluster. 40 B T c, which is worth $1.4 million today, is still sitting in the wallet, untouched since it was first moved last May.

$1.4M in bitcoin remains dormant - the curious case of the 37-day old 2009 block reward spent a year ago

Of course, since it was discovered last year, users have tried to send messages to the address and dust the wallet. The address has seen about 22 transactions, but the owner has done 40. Haven’t sent a single satoshi since B T c was added. Observers can also see that the owner of the infamous 2009 Coinbase bounty haven’t spent According Bitcoin Cash (BCH) or bitcoinsw (BSV) associated with reward. when 50 B T c Transferred on May 20, 2020, bitcoin (B T c) There was a sudden 7% drop in fiat value in the market that day.

$1.4M in bitcoin remains dormant - the curious case of the 37-day old 2009 block reward spent a year ago

The spending of 2009 blocks is not common and people speculate about the Satoshi theories as to when they are spent. Even the block reward transfers of 2010 and 2011 are very interesting, especially since they lie dormant for more than ten years before bitcoin runs out. In 2020 and 2021, News reported a lucrative mining whale in 2010 that generated 10,000. spent B T c from that year. In fact, the whales of 2010 minted the coins as 1,000 . spent in wire B T c Prize each or 20 blocks at a time.

Most recent 2009 block reward spend before May 2020 transfer

The oldest block to be transferred after 2009 was processed on May 20, 2020, was mined on April 6, 2010, and transferred on January 3, 2021 (the anniversary of bitcoin’s launch date). The previous 2009 block reward spent before Block 3,654 was transferred in January 2018 was Block 29,953. In fact, a consecutive number (at least 2-4) of 2009 blocks were processed on January 5, 2018. Additionally, a few more block rewards mined the very next day in December 2009 were transferred.

This particular two-day spending spree of 2009 coins in January 2018 was a short string of transfers. Before the string there was another string of transfers with block rewards of 2009 which were transferred in November 2017. At the time, blocks mined from 2009 to December 17, 18, 24 and 27 were processed in the middle of the 2017 bitcoin bull run. . The most recent spend of 2009 was more interesting because of how young it was.

On August 7, 2017, a Coinbase bounty was mined on the exact same day as February 9, 2009, but spent at block height 3,607. Previously, some of the blocks mined during the same week in 2009 were transferred in September 2015.

Between 2009 and 2011, there are over one million unspent B T c Dormant Coinbase is sitting in rewards and many of these rewards are believed to be Satoshi’s stash. This is why when the February 2009 block was moved last May, crypto prices dropped by 7% due to fears that the creator was moving the coins. Whoever transferred those bitcoins decided that they should get 40. do not require B T c Today’s price is $1.4 million.

What do you think about the old ‘sleeping’ bitcoin from the Coinbase Awards 2009-2011? Let us know what you think about this topic in the comment section below.

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