Bitcoin

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 <p>More than 1,000 bitcoins from the early days of the Bitcoin network, often referred to as the “Satoshi era,” were recently transferred. According to data from on-chain analytics firm CryptoQuant, the bitcoins were moved on December 4, marking a rare event where assets mined during Bitcoin’s early stages changed hands.</p> 
 <p>The bitcoins, mined over thirteen years ago between August and November 2010, were part of the block rewards and had an estimated total cost of $100.</p> 
 <p><strong>Also read: Bitcoin Regains $44,000 Once Again, Will BTC Hit $50,000 Soon?</strong></p> 
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 <h2 class="wp-block-heading" id="h-the-moved-bitcoin-is-now-worth-43-million">The moved Bitcoin is now worth $43 million</h2> 
 <p>Address 35BRV3y2tEJNCHbmVtAe3kXNckYgu8X7av received precisely 999.99 bitcoins in a single transaction, subsequently distributing the holdings across various addresses. Eventually, the bitcoins were consolidated in address 1CzBL1pEudgqeTtoyPLtrVQHo7nYAZxmKZ, which currently holds a balance of 1,028 bitcoins.</p> 
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 <p>At current prices, the total market value of these bitcoin holdings is approximately $43 million. Analysts at CryptoQuant speculate that the early miner who moved the bitcoins may have sold them, possibly directing the funds into an over-the-counter (OTC) or custodian service.</p> 
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 <p>This recent movement follows other instances of “Satoshi-era” bitcoins becoming active in 2023. In July, a wallet that had been dormant for 11 years transferred $30 million worth of bitcoin to other wallets, while in August, another wallet moved 1,005 BTC to a new address.</p> 
 <p><strong>Also read:&nbsp;Shiba Inu To 1 Cent? Google Bard Predicts When SHIB Could Hit $0.01</strong></p> 
 <p>The movement of these early-mined bitcoins comes at a time of renewed optimism for bitcoin. With the Bitcoin halving set to happen in April, analysts also anticipate a price surge.</p> 
 <p>The upcoming Bitcoin halving event, a significant BTC event, is known to impact its supply dynamics and has historically influenced market sentiments. WatcherGuru has introduced a live Bitcoin halving countdown, where anyone can get the live countdown of the halving event. You can check out the real-time Bitcoin Halving Countdown&nbsp;<strong>here</strong>.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitcoin-from-satoshi-era-on-the-move-here-s-where-it-s-headed-tbt72885.html">https://thebittimes.com/bitcoin-from-satoshi-era-on-the-move-here-s-where-it-s-headed-tbt72885.html</a></p>

Bitcoin From "Satoshi Era" on the Move: Here's Where It's Headed

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TheBitTimes

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