An inactive bitcoin address, holding 50 bitcoins equivalent to around $1.25 million, unexpectedly resumed activity on June 15, after being idle since June 21, 2010. There’s been only a single 2010 block reward transfer observed this month, with the preceding two occurring on May 22, 2023.
$1.25 Million Bitcoin Transfer Occurs After a Decade-long Stagnation; 6 Block Rewards From 2010 Spent in 2023
Despite the 7.5% decrease in bitcoin’s price this month, the address that was created on June 21, 2010, decided to transfer its total 50 BTC balance valued at $1.25 million — marking the first transaction in more than 12 years. Presently, 2010 block reward transfers are uncommon and were more frequent when the cryptocurrency’s value was double its current price. The complete balance transfer from the “13CFn” address was detected by the blockchain analysis tool Btcparser.com.
Curiously, the owner chose not to utilize the linked bitcoin cash (BCH) associated with the funds. The most recent ‘sleeping bitcoin’ transfers from 2010 occurred 24 days ago on May 22, 2023. That day, two block rewards totaling 100 BTC were transferred. In April, a single block reward from 2010 was moved, unnoticed by parsers due to a previous minor transaction. A separate 50 BTC block reward transaction took place on March 20, 2023, prior to the April transfer.
In February 2023, a singular 2010 block reward was moved. There were no transfers of funds from 2010 in January. As per the privacy tool of Blockchair.com, the recent transfer involving a block reward from 2010 scored “low” on the privacy scale. It scored just five points, indicating identifiable issues like a “sweep,” “same address in inputs,” and “various input types.”
The total BTC balance was first moved to one address, then to another wallet, and eventually divided between two addresses containing 23.11 BTC and 26.88 BTC each. Overall, 2023 has seen the transfer of six block rewards from the 2010 era — all following over a decade of inactivity.
What could be the reason for the sudden activation of these long-dormant bitcoins? We invite you to share your thoughts and insights on this topic in the comments section below.
Frequently Asked Questions (FAQs) about Dormant Bitcoin Activity
How much Bitcoin was transferred after 12 years of dormancy?
50 bitcoins, equivalent to approximately $1.25 million, were transferred after being dormant for over 12 years.
When did the transferred bitcoins become active again?
The bitcoins resumed activity on June 15, 2023, after being dormant since June 21, 2010.
How many block rewards from 2010 have been spent in 2023?
In 2023, six block rewards from 2010 have been spent after over a decade of inactivity.
Did the bitcoin owner also spend the associated bitcoin cash (BCH)?
No, the data reveals that the bitcoin owner did not spend the associated bitcoin cash (BCH) tied to the funds.
How was the privacy of the recent block reward transfer rated?
According to Blockchair.com’s privacy tool, the recent transfer involving a block reward from 2010 scored a “low” rating for privacy.
More about Dormant Bitcoin Activity
- Cryptocurrency Activity in 2023
- Information on Bitcoin Block Rewards
- Bitcoin Cash (BCH)
- Blockchain Analysis Tool Btcparser.com
- Blockchair’s Privacy Tool