BTC Mined at Block Height 79743 Finally Moved by Early Bitcoin Miner
The buying low, selling high concept is common among market participants. Given the cyclical nature of Bitcoin, they sell at the alleged peak and purchase during the down market. Furthermore, because Bitcoin has a tendency to top prior highs in successive bull runs, holding it across cycles has proven profitable.
But in the latest event, a market participant held through three bull and bear cycles, holding onto his stash from when Bitcoin was worth nearly nothing to when it surpassed six figures. After moving the assets to different addresses two days ago, a patient miner gains enormous benefits for holding Bitcoin for more than ten years.
50 BTC Mined in 2010 Now Worth $5M
The editor-in-chief of Bitcoin Magazine, Pete Rizzo, introduced the cryptocurrency community to a person who has stuck with Bitcoin through thick and thin. Fifteen years ago, when the value of Bitcoin was less than $0.1, the unidentified user mined fifty BTC, which he kept until Sunday. Mempool’s additional information reveals that on September 14, 2010, the user mined 50 BTC at block height 79743. Interestingly, the block reward for validating a block on the Bitcoin network was 50 BTC at the time, which is 16 times the current amount.
The ardent supporter of Bitcoin remarkably persevered through the 2013 top of $1,242, the 2017 peak of $19,804, and the 2021 peak of $68,997, until the groundbreaking cryptocurrency asset reached $100,000. The miner moved 50 Bitcoin, which was worth $3.08 at the time, to two new addresses at exactly 17:46 (UTC) two days ago. This transaction was valued at approximately $5 million. From what the diamond-handed miner would have sold it for when he mined the tokens, this represented an astounding 162,337,562% increase.
The cryptocurrency community, in the meantime, has praised the unidentified holder’s passionate attitude toward his Bitcoin collection. In particular, a few remarks supported three obvious traits: patience, dedication, and discipline.
For more up-to-date crypto news, you can follow Crypto Data Space.
Leave a comment