A miner from the 2010 period activated his Bitcoin (BTC) accumulated 11 years later. The amount was 50 BTC and after the increase in value, the miner earned 76,249,900 percent. Meanwhile, it has not gone unnoticed that miners who have accumulated Bitcoin since 2010 have become more active in recent years.
$3 million Bitcoin wallet revived
After 11 years of hibernation, a Bitcoin wallet comes to life with an amount worth around $3 million. Bitcoins were worth less than $1 at the time of purchase of this wallet. That is, the astronomical increase in value resulted in a small fortune for the patient miner. On May 17, 2010, a Bitcoin miner received 50 BTC, and for the next 11 years, Bitcoin remained untouched. On October 22, the miner made a fortune. The wallet reportedly went into action, as the miner cashed out his reward ten years later, thus becoming a millionaire.
In 2010, all 50 BTC could be bought for under $4, but today the price of 1 Bitcoin has gone above $60,000. This meant a huge gain of $3 million for the miner. If the miner decides to sell his holdings, this shows he will make a staggering 76,000,000 percent gain in just over 11 years.
Block rewards were 50 Bitcoin
At that time, BTC block rewards for miners were fixed at 50 BTC, with halvings scheduled every four years. After three halves, the reward per block now stands at 6.25 BTC. According to some, despite the halvings, Bitcoin mining has become a more lucrative endeavor than ever before given the asset’s rising price trend. In fact, these halving events are thought to be responsible for the surge in Bitcoin prices, as prices have doubled since the last halving in May 2020.
cryptocoin.com As we have also reported, Bitcoin recorded an all-time high last week, surpassing $67,000 today (October 20). Although it has experienced slight decreases since then, it lost $ 60,000 as a result of the deepening collapse today. The leading cryptocurrency, the largest by market cap, is changing hands at $58,923 at the time of writing.
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