Key Takeaways
- A 2010 miner moved 2,000 Bitcoin, now valued at nearly $140 million.
- The miner consolidated a mix of different block rewards.
- Analysts claim the event may indicate a sell-side liquidity crisis in the Bitcoin market.
An unknown individual or entity has consolidated 2,000 bitcoin, originally mined in 2010, into a single Bitcoin wallet.
This amount, initially worth $600 at the time it was mined, is now valued at nearly $140 million.
Mining rewards and Bitcoin’s halving
The consolidation involved moving 40 sets of mining rewards, each containing 50 Bitcoin.
These rewards stem from the early days of Bitcoin mining when each block rewarded miners with 50 Bitcoin.
Implications and other notable movements
On X, developer mononautical noted the complexity of the transaction that highlighted the significant value increase over 14 years.
CryptoQuant CEO Ki Young Ju suggested that this consolidation may indicate the state of sell-side liquidity:
Sell-side liquidity crisis waking up old Bitcoin.
Additionally, other significant Bitcoin movements were noted, including the transfer of $6 billion worth of Bitcoin by the fifth richest Bitcoin address.
