Early Bitcoin Miner Cashes Out 1000 BTC from 2010 Stash
Date: 2024-03-06 Author: Dima Zakharov Categories: IN WORLD
Early in March, an early Bitcoin miner consolidated coins from several wallets. On March 5th, amidst the cryptocurrency reaching new price highs, they transferred the sum to Coinbase. The Bitcoin price during the user's mining in 2010 was around $0.28.
Some commentators speculated that this significant sell-off contributed to the digital gold's correction to below $62,000. However, opponents argued that the approval of spot Bitcoin ETFs in the US has stabilized the market significantly. The daily trading volume for these exchange-traded products based on cryptocurrency reached $10 billion.
Earlier in January, CryptoQuant analysts noted the movement of "hodled" (held) coins older than five years, totaling 49,866 BTC. However, these coins were not sent to exchanges.
