The recent movement of Bitcoins from old wallets has garnered attention, as five wallets from 2010 transferred 250 BTC, contributing to the trend of shifting old coins.
Movement of Bitcoins from Ancient Wallets
Five early wallets transferred 250 Bitcoins, indicating that not all inactive holders lead to lost coins. The wallets likely belonged to a single user and were consolidated into two new addresses.
Historical Context of Transactions
All moved Bitcoins were mined in 2010, when market prices were below $0.10. The exact date of block reception coincided with the period when Satoshi Nakamoto was also producing blocks. Meanwhile, new wallets contained over $29 million.
Status of Miners' Reserves
According to Cryptoquant, current miners' reserves have decreased from 1.9 million to 1.8 million Bitcoins, despite a high hashrate. Some companies have begun liquidating their reserves to take profits, utilizing the low production cost of older BTC.
The movement of Bitcoins from ancient wallets confirms that many long-term holders are willing to take profits during market surges. This also highlights the increasing activity among miners, despite the decrease in reserves.
