On July 24, 2023, a block reward from 2010 was transferred for the first time in 13 years, marking this month’s first expenditure of dormant bitcoin from that year. So far this year, a total of nine such block rewards from the 2010 era have been spent, resulting in the transfer of 450 bitcoins.
2010 Block Spend Makes the Ninth This Year
According to btcparser.com, a rare 2010 block reward was spent on Monday, transferring 50 bitcoins to an unidentified address. Although 50 bitcoins may not be a substantial sum, it is valued at $1.4 million, and expenditures of bitcoins from 2010 have become much less common nowadays. Moreover, the 50 bitcoins were essentially valueless back then, as bitcoin did not hit the five-cent mark until July 17, 2010.
The funds were transferred to a specific bitcoin address and moved on from there. Blockchair’s privacy tool indicated that the transfer scored a 5 out of 100 on privacy, citing three issues, and it labeled the privacy level as “low.” The issues comprised the fact that the funds were swept, the same address appeared multiple times in the inputs, and the inputs were of diverse types.
The 2010 block reward transfer on Monday marked the ninth such expenditure this year, with the most recent previous transactions from this era occurring on June 26. On that day, two transfers took place, amounting to a total of 100 bitcoins. Moreover, both block rewards were acquired on the same day, July 12, 2010, which suggests they were transferred by the same individual.
Thus far in 2023, a total of nine 2010 block reward transfers have occurred, but only eight of these were from virgin, dormant bitcoin rewards. A transaction that occurred on April 22, 2023, spent a 50-bitcoin block reward, but the address had also spent a small amount, or 0.00001094 BTC, from the wallet on August 10, 2021. The remaining eight transactions, including the one on Monday, involved completely untouched block rewards that had remained idle for 13 years.
What do you think about the 2010 block reward spend that took place on Monday after sitting idle for well over a decade? Share your thoughts and opinions about this subject in the comments section below.
