Bitcoin mined for pennies in 2010 moves after 16 years, now worth $8.5 million
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Approximately 100 bitcoin mined in July 2010 moved for the first time in over 16 years, increasing in value from about $6 to roughly $8.5 million. The coins originated from two mining rewards dated to the so-called “Satoshi era,” but there is no established connection to Bitcoin’s pseudonymous creator. The transaction split the bitcoins into two addresses, but the identities of those controlling them or their intentions remain unknown.
Why it matters
The source highlights that dormant bitcoins moving after long inactivity can attract attention because they may re-enter the market and affect supply. However, the public records do not clarify if the coins will be sold, so the actual market impact remains uncertain.
Key context
These bitcoins are unspent transaction outputs (UTXOs) that date back to when Bitcoin was valued at pennies, specifically around 6 cents per coin in 2010. The address involved has shown previous activity from 2011 to 2018, spending other coins but not this portion since 2010. The mined coins came from two block rewards each worth 50 BTC at the time when miners received 50 newly created coins per block. The coins’ age corresponds with the early active period of Satoshi Nakamoto, but their movement does not confirm any link to Nakamoto.
Key numbers and entities
About 100.02 BTC moved, now worth approximately $8.5 million at current prices. The coins were mined in July 2010 when bitcoin traded at about 6 cents. Galaxy Research, part of Galaxy Digital, first flagged the movement publicly. Previous large sales include Galaxy Digital’s reported sale of over 80,000 BTC in July 2025 as part of estate planning.
What remains unclear
The source does not reveal who controls the addresses receiving the bitcoins or whether there will be any sale. It also does not clarify if the original miners or other parties initiated the transfer, nor the motives behind moving the coins after such a long dormancy.