1,000 Dormant Bitcoins From Genesis Block Saw Movement After 10 Years On 10th Jan

Another Bitcoin’s block from the early era of Bitcoin and Satoshi Nakamoto saw movement on 10th January. Lying dormant for over 10 years, about 1,000 Bitcoins (equivalent to US$ 39 Million as of today) were mined. Earlier dormant Bitcoins comprising of 1,000 coins were moved on Bitcoin’s 12th Anniversary.

 Approximately, one week before, when Bitcoiners were celebrating Bitcoin’s 12 Anniversary, dormant Bitcoins were moved by an unknown miner. It was revealed at that time that the transferred Bitcoins were from those blocks which were part of Genesis Block. It took almost over 10 years for the unidentified Bitcoin owner to move his 1,000 coins.

Genesis Block or “Block Zero” was the same blocks which were created initially none other than by Satoshi Nakamoto himself.

However, on 10th January, another chunk of Bitcoins belonging to the same genesis block were mined. The unknown miner undertook a transaction of 1,000 Bitcoins which were moved first time after a period of 10 years. It was reported that transacting block was created in June 2010 and the miner looked the same who was behind 12th Anniversary transaction.

It was further found out that Bitcoins were divided into fractions, consisting of 10 BTC, and then sent to different wallet addresses. Each fraction of Bitcoin consisting of 10 coins can be valued at US$ 350,000 as of today’s exchange rate for Bitcoin. Soon these coins would be draining from the addresses as well. Approximately 1,000 Bitcoins have been moved so far by unknown owner which could be valued at US$ 350 Million as of today.

The fashion of transactions that had been conducted from Block 20, prove that it is the same entity conducting the transactions. The same entity had done similar transaction way back in 2010 as well, when Block 20 was created.

Whoever is behind this transaction, seemed to be quite a big holder of Bitcoin who is using the coins at the perfect time. At that time it would have cost this mysterious owner only US$ 0.08 for purchasing a single Bitcoin. The mysterious is currently been mining Bitcoins with a return which cannot be imagined. It was the time when the inventor of Bitcoin, Satoshi Nakamoto, too spent the time with Bitcoin community.