Nearly 1,000 Ancient Bitcoins from 2010 and 2011 Moved in 2023, Valued at Over $27 Million

Based on present data, within the last four months, a mere three block rewards from the year 2010 have been transferred after 13 years of dormancy. This is due to the fact that dormant wallets from that era are becoming a rarity to behold. The latest expenditure of a 2010 block took place on April 22, 2023, at 11:14 p.m. (UTC), when a miner spent 50 bitcoin that was valued at approximately $1.3 million. A historic moment occurred today, as a transfer of 400 bitcoin from 2011 took place, marking the first time in over a decade that these digital assets had been moved.

Rare Bitcoin Activity: 985 BTC from 2010 and 2011 Moved in 2023

Block rewards of antiquity from 2010 and 2011 have become increasingly scarce. Only three 2010 blocks were spent this year, along with several ancient bitcoins from 2011. On Jan. 26, 2023, a block reward of 50 BTC was spent at block height 773,723. Around ten bitcoins from 2011 were spent on Jan. 8, 2023, at block height 770,924.

Just before the 50 BTC spend, at block height 773,718, 40 bitcoins from 2011 were transferred on the same day. Additionally, at block height 773,745 on that day, another 100 BTC from 2011 was sent. On Jan. 29, 2023, at block height 774,203, approximately 5.853 bitcoins were transferred. In total, around 205.85 bitcoins from 2011 were transferred in January 2023.

On Feb. 2, a block reward from 2010 sent 50 bitcoins at block height 774,546 after sitting idle for 13 years. Although the month saw only one 2010 transaction, there was also a single 2011 spend in which 218.82 BTC was transferred. The large transfer took place on Feb. 10, 2023, at block height 775,933.

Between these two 2010 and 2011 spends, a total of 268.82 ancient bitcoins were moved in February for the first time in over a decade. Although February had two spends from the early years, March also recorded two transfers from those years. For instance, 11 BTC was sent on March 18 at block height 781,355. Two days later, at block height 781,697, a rare 2010 block reward of 50 BTC was sent.

In March 2023, only 61 ancient bitcoins from 2010 and 2011 were transferred. April has also seen some activity in terms of older bitcoin spends from the 2010 and 2011 eras. On Monday, April 24, 2023, 400 bitcoins from 2011 were transferred, worth $11 million using today’s BTC exchange rates.

The action occurred at block height 786,801, and the address still has 600 BTC remaining. The 400 bitcoins worth $11 million today were only worth $1,380 when acquired by the user on May 5, 2011. Interestingly, a block reward from 2010 was spent on April 22, 2023. However, because the owner sent 0.00001094 BTC of dust in 2021, blockchain parsers did not catch the 2023 spend because it wasn’t a virgin address after the 2021 transfer.

Although April is not yet over, 450 bitcoins from the 2010 and 2011 eras have been spent during the last 24 days of the month. Furthermore, approximately 985.67 bitcoins that originated from those two years have been moved so far in 2023. Using today’s BTC/USD exchange rates, the stash is worth $27,120,020 in USD value.

Why do you think there are fewer ancient bitcoin spends these days? Do you think we’ll see more of these movements in the coming years? Share your thoughts about this subject in the comments section below.