Bitcoin That Once Was Worth $6 Moved After 16 Years, Now Valued at $8.5 Million!
After sitting untouched for more than 16 years, 100.02 Bitcoin from 2010 mining rewards—worth about $6 at the time—moved at a value of approximately $8.5 million.
The transfer, announced by Galaxy Research and also reviewed by CoinDesk using transaction records, took place on Wednesday, October 7. The Bitcoin had arrived at an address on July 30, 2010, and had not been spent in the more than 16 years since.
Bitcoin was trading at about 6 cents at the time. As a result, the coins, whose combined market value was only around $6, were worth approximately $8.5 million when they were transferred. This comparison reflects the coins’ increase in value over time; the transaction records show no completed sale.
Two mining rewards from Bitcoin’s early years
The coins trace back to two mining rewards created in July 2010: 50 BTC and 50.02 BTC, including transaction fees. At the time, miners who produced a new block on the Bitcoin network received a reward of 50 BTC per block.
Another detail that drew attention, alongside the coins’ age, was the history of the address that held them. The address had spent other Bitcoin between 2015 and 2018, but these 100.02 BTC received in July 2010 had remained untouched.
Because payments sent to an address on the Bitcoin network can be spent separately, some coins in the same wallet can move while others remain untouched for years. Galaxy Research also emphasized that the 16 years of inactivity applied to these specific coins, not the entire address.
Where did the Bitcoin go?
In Wednesday’s transaction, the old coins were moved along with six smaller payments received later. About 10 BTC went to one address, while 90.02 BTC went to another. A check on Thursday morning found that the Bitcoin at both addresses had not moved again.
Coins that have remained untouched for years are closely watched because their movement shows they are still accessible. In this case, however, it is unknown whether the person who made the transfer was the original owner or plans to sell.