Satoshi-Era Bitcoin Miner Scores $3.5M From Decade-Old Stash: 'What A Legend'
Portfolio Pulse from Mehab Qureshi
A Bitcoin miner from the Satoshi era has transferred 100 bitcoins for the first time in 13 years, selling half of them. These coins were mined when Bitcoin was in its early stages and were worth barely a dollar in total. The sale occurred with Bitcoin's price around $35,000. Early Bitcoin mining could be done with simple CPUs, unlike today's advanced and resource-heavy operations. BTC was trading at $37,469, up 5.33% in the last 24 hours.
November 16, 2023 | 2:06 pm
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A Satoshi-era Bitcoin miner sold 50 out of 100 bitcoins from a stash that had not been touched in 13 years. This event highlights the historical value and potential long-term holding strategies of early Bitcoin adopters. The sale took place when Bitcoin was trading around $35,000.
The sale of a significant amount of Bitcoin by an early miner could have a mixed impact on the market. On one hand, it demonstrates the long-term value of holding Bitcoin, potentially reinforcing investor confidence. On the other hand, large sales can sometimes lead to short-term price fluctuations. However, given the current market size and trading volume, the sale of 50 bitcoins is unlikely to have a substantial impact on the price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70