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<a href="https://bitcoinworld.co.in/14-years-dormant-bitcoin-wallet-recently-transferred-50-btc/" title="14 Years Dormant Bitcoin Wallet Recently Transferred 50 BTC" rel="nofollow"></a>
According to the on-chain analysis platform <a href="https://twitter.com/lookonchain/status/1779772457622388937">Lookonchain</a>, a long dormant Bitcoin (BTC) wallet dating back to April 2010, recently transferred 50 BTC, equivalent to $3.328 million. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 A miner wallet woke up after being dormant for nearly 14 years and deposited 50 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($3.28M) to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a> 5 mins ago. 
 The miner earned 50 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> from mining on Apr 23, 2010, and has been holding it to this day. 
 Address: 15sxzZ4QSaoiMo5KYH9ab4xQj34yeJmKgb <a href="https://t.co/DRw9U5Xy8N">pic.twitter.com/DRw9U5Xy8N</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1779772457622388937?ref_src=twsrc%5Etfw">April 15, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="span-style-font-weight-400-unraveling-the-transaction-an-exploration-of-potential-motives-span">Unraveling The Transaction: An Exploration of Potential Motives</h3> 
As reported by Lookonchian, 50 BTC mined over 14 years ago, when each block reward was 50 BTC, was divided into two transactions: 17 BTC ($1.1 million) for one wallet and 33 BTC ($2.2 million) for another. 
The recipient wallet receiving 17 BTC has shown patterns of frequent transactions, possibly indicating its association with a cryptocurrency exchange, particularly Coinbase. 
The analysis further reveals that the Bitcoin sent to this wallet was subsequently merged with funds from other wallets associated with Coinbase, suggesting a possible deposit into the exchange. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/solana-faces-decline-in-open-interest-as-longs-liquidated-amid-price-downturn/" aria-label="“Solana Faces Decline in Open Interest as Longs Liquidated Amid Price Downturn” (Edit)">Solana Faces Decline in Open Interest as Longs Liquidated Amid Price Downturn</a> 
On the other hand, the remaining 33 BTC were transferred to a new wallet. This could indicate that this Bitcoin may have effectively remained within the miner’s control but under a new address, a common practice to enhance transaction privacy. 
<h3 id="span-style-font-weight-400-bitcoin-recovery-amid-impending-halving-span">Bitcoin Recovery Amid Impending Halving</h3> 
This recent activity coincides with Bitcoin’s rebound following a sharp decline that saw its price plummet from over $70,000 to $62,000 over the weekend.&nbsp; 
However, at the time of writing, <a href="https://coinstats.app/coins/bitcoin/">Bitcoin</a> is trading at $64,109, marking a 0.5% increase in value over the past 24 hours. 
<figure id="attachment_70555" aria-describedby="caption-attachment-70555" style="width: 100%" class="wp-caption aligncenter">
 <img fetchpriority="high" decoding="async" class=" wp-image-70555" src="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-chart-41-483x300.png" alt="" width="704" height="437" srcset="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-chart-41-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-chart-41.png 760w" sizes="(max-width: 704px) 100vw, 704px">
 <figcaption id="caption-attachment-70555" class="wp-caption-text">
 BTC Price chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
This surge in price comes amidst anticipation of the upcoming Bitcoin Halving scheduled to take place in the next 5 days on April 20. 
Notably, the Bitcoin Halving is a programmed event that occurs approximately every four years or after every 210,000 blocks are mined.&nbsp; 
Bitcoin miners’ reward for validating transactions and securing the network is cut in half during this event. 
When Bitcoin was launched in 2009, the reward was initially set at 50 BTC per block. However, the reward has been halved, reducing the rate at which new BTC is created.&nbsp; 
This adjustment is designed to control the supply of Bitcoin, making it more scarce over time and ultimately contributing to its deflationary nature. 
Furthermore, recent reports indicate that BTC miners could face losses exceeding $10 billion due to the upcoming Halving event.&nbsp; 
As Bloomberg reported, this loss could result from several factors, including miners facing intensified competition from AI companies. 
Core Scientific CEO Adam Sullivan noted the tightening availability of power in the US, driven partly by tech giants like Amazon investing heavily in data centers.&nbsp; 
This competition for resources presents further obstacles for miners seeking affordable power contracts. 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/14-years-dormant-bitcoin-wallet-recently-transferred-50-btc/">14 Years Dormant Bitcoin Wallet Recently Transferred 50 BTC</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

14 Years Dormant Bitcoin Wallet Recently Transferred 50 BTC

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