Dormant Bitcoin Mined for Pennies Moves After 16 Years
A dormant wallet containing Bitcoin mined 16 years ago for pennies has transferred funds valued at $8.5 million.
According to StreetInsider, a dormant holding of Bitcoin mined 16 years ago for pennies has moved, carrying a total value of $8.5 million. The transaction brings attention to early-era supply reactivations on the network.
Movement of Early Supply
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The coins, originally acquired when the network was in its infancy and mining costs were negligible, remained untouched through multiple market cycles before shifting. Such legacy transactions are closely watched by market participants monitoring the behavior of early holders and the longevity of dormant supply.
Key facts
- A dormant Bitcoin holding mined 16 years ago moved after years of inactivity.
- The transferred assets carry an estimated value of $8.5 million.
- The original acquisition cost of the mined coins was measured in pennies.
Source: news.google.com
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