Primarily based on current knowledge, throughout the final 4 months, a mere three block rewards from the yr 2010 have been transferred after 13 years of dormancy. This is because of the truth that dormant wallets from that period have gotten a rarity to behold. The newest expenditure of a 2010 block befell on April 22, 2023, at 11:14 p.m. (UTC), when a miner spent 50 bitcoin that was valued at roughly $1.3 million. A historic second occurred at present, as a switch of 400 bitcoin from 2011 befell, marking the primary time in over a decade that these digital property had been moved.
Block rewards of antiquity from 2010 and 2011 have turn into more and more scarce. Solely three 2010 blocks have been spent this yr, together with a number of historical bitcoins from 2011. On Jan. 26, 2023, a block reward of fifty BTC was spent at block top 773,723. Round ten bitcoins from 2011 have been spent on Jan. 8, 2023, at block top 770,924.
Simply earlier than the 50 BTC spend, at block top 773,718, 40 bitcoins from 2011 have been transferred on the identical day. Moreover, at block top 773,745 on that day, one other 100 BTC from 2011 was despatched. On Jan. 29, 2023, at block top 774,203, roughly 5.853 bitcoins have been transferred. In whole, round 205.85 bitcoins from 2011 have been transferred in January 2023.
On Feb. 2, a block reward from 2010 despatched 50 bitcoins at block top 774,546 after sitting idle for 13 years. Though the month noticed just one 2010 transaction, there was additionally a single 2011 spend during which 218.82 BTC was transferred. The massive switch befell on Feb. 10, 2023, at block top 775,933.
Between these two 2010 and 2011 spends, a complete of 268.82 historical bitcoins have been moved in February for the primary time in over a decade. Though February had two spends from the early years, March additionally recorded two transfers from these years. As an illustration, 11 BTC was despatched on March 18 at block top 781,355. Two days later, at block top 781,697, a uncommon 2010 block reward of fifty BTC was despatched.
In March 2023, solely 61 historical bitcoins from 2010 and 2011 have been transferred. April has additionally seen some exercise when it comes to older bitcoin spends from the 2010 and 2011 eras. On Monday, April 24, 2023, 400 bitcoins from 2011 have been transferred, value $11 million utilizing at present’s BTC trade charges.
The motion occurred at block top 786,801, and the handle nonetheless has 600 BTC remaining. The 400 bitcoins value $11 million at present have been solely value $1,380 when acquired by the person on Might 5, 2011. Curiously, a block reward from 2010 was spent on April 22, 2023. Nonetheless, as a result of the proprietor despatched 0.00001094 BTC of mud in 2021, blockchain parsers didn’t catch the 2023 spend as a result of it wasn’t a virgin handle after the 2021 switch.
Though April shouldn’t be but over, 450 bitcoins from the 2010 and 2011 eras have been spent over the past 24 days of the month. Moreover, roughly 985.67 bitcoins that originated from these two years have been moved to this point in 2023. Utilizing at present’s BTC/USD trade charges, the stash is value $27,120,020 in USD worth.
Why do you assume there are fewer historical bitcoin spends as of late? Do you assume we’ll see extra of those actions within the coming years? Share your ideas about this topic within the feedback part under.
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On Tuesday, President-elect Trump refused to rule out military action to pursue his unprecedented vow to take Greenland and the Panama Canal — plus absorb Canada. Why has he set his sights on expanding beyond the United States’ borders? Jim discusses that with Jim Zirin of Washington Monthly on “The Final 5.”
President-elect Donald Trump has launched a new meme coin called $TRUMP. He made the announcement in a post on Truth Social post late Friday, describing the cryptocurrency as a celebration of “WINNING” the presidential election.
Analysts say it has the potential to make a lot of money for Trump and his family, but some ethics experts say it’s another effort to cash in on the nation’s highest office.
The new Trump-backed meme coin is a cryptocurrency token with an image of Trump following his assassination attempt.
It was developed by Solana, a cryptocurrency and blockchain company, with a limited supply of 200 million $TRUMP coins at initial launch. The supply will expand to 1 billion coins over the next three years, the coin’s website states.
The remaining tokens that haven’t been put up for sale yet are owned by the Trump Organization affiliate CIC Digital LLC and Fight Fight Fight LLC, a company formed in Delaware on Jan. 7, state filings show. Forbes reports that both companies will receive an undisclosed amount of revenue from the coin trade.
By the numbers:
The price of $TRUMP increased by more than 300% to just below $29 as of 10:15 a.m. ET Saturday. It reached a market cap of $5.81 billion, according to CoinMarketCap data obtained by Forbes.
There’s a disclaimer on the $TRUMP website stating that the token is “not intended to be, or the subject of” an investment opportunity nor a security of any type, and is “not political and has nothing to do with” any political activity or government agency.
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Dig deeper:
Although all cryptocurrency carries risk, meme coins can be especially risky for traders, an expert told CNBC.
“Meme coins are among the riskiest of cryptocurrencies because they seem to emerge from nowhere and information about them can be sparse,” he says. “They’re expected to soar and plummet as the public sentiment shifts this way and that. Meme coins may capture the public’s fancy today and be gone tomorrow.”
The other side:
Ethics attorneys called the latest venture by Trump and his family a blatant effort to profiteer from the presidency.
“It is literally cashing in on the presidency — creating a financial instrument so people can transfer money to the president’s family in connection with his office” Adav Noti, executive director of Campaign Legal Center, a nonprofit ethics group, told The New York Times. “It is beyond unprecedented.”
The backstory:
The price of bitcoin topped $100,000 again early Friday as a pumped up cryptocurrency industry expects early action by Trump when he’s sworn in as president next week.
RELATED: Crypto markets surge after Trump’s election victory
Once a skeptic who said a few years ago that bitcoin ” seems like a scam,” Trump has embraced digital currencies with a convert’s zeal. He vowed on the campaign trail to take steps early in his presidency to make the U.S. into the “crypto capital” of the world.
His promises including creating a U.S. crypto stockpile, enacting industry-friendly regulation and event appointing a crypto “czar” for his administration.
“You’re going to be very happy with me,” Trump told crypto-enthusiasts at a bitcoin conference last summer.
By the numbers:
According to Forbes, bitcoin hit several new record highs after Trump’s win, surpassing $100,000 within a month of Election Day. Roughly $1.8 trillion was added to the global crypto market’s aggregate market value in 2024, and $1 trillion of that was since Election Day, according to CoinGecko via Forbes.
Big picture view:
Trump’s meme coin is one of several products he has launched in recent years. He has a line of perfumes and colognes, along with “Trump Watches” celebrating his election win. His pre-win “Trump Watches” were valued up to $100,000 in September, and there was also the debut of $100 silver coins, 1,000 pairs of limited edition sneakers, $60 Trump-branded bibles and NFT cards, according to Forbes. Trump also released a line of signed and unsigned guitars sold at $11,500 and $1,500 each, respectively, for $4.6 million in sales.
Trump has received the bulk of his merchandise revenue through his NFTs, which reportedly earned him about $7.2 million in licensing fees.
To the crypto company Tether, the account was identified only by a 31-character string: TTAHMdqoom4f2VTWniroPWQHcTRZ4ca.
It’s a cryptocurrency wallet address, one of more than 300 million around the world that have held Tether tokens and make up a global unregulated payments network. Unlike a bank or fintech company, Tether collects no personal information about most of its users. Anyone can open a crypto wallet and move money with Tether quickly, cheaply and anonymously.
Bitcoin adjacent stocks got a substantial lift after the cryptocurrency’s price jumped over $104,000 on Friday.
Bitcoin mining behemoth, Mara Holdings (NASDAQ: MARA) was the biggest and most vocal, climbing by 13 per cent. It was followed closely by Riot Platforms (NASDAQ: RIOT), MicroStrategy Inc (NASDAQ: MSTR) at 7 per cent and Coinbase Global Inc (NASDAQ: COIN) at 5 per cent.
The original cryptocurrency’s good fortunes have been at the behest of Donald Trump’s election victory, based on the optimistic take that the incoming administration will take a more favourable approach to crypto, and Bitcoin in particular.
In December, Trump appointed Paul Atkins to lead the Securities and Exchange Commission. Atkins, who previously served as an SEC commissioner under President George W. Bush, has recently focused on digital assets. He is set to replace Gary Gensler, widely regarded as a crypto critic. Trump will also likely replace several SEC commissioners whose terms are set to expire during his administration.
Furthermore, crypto advocates and holders will soon shape U.S. policy on the emerging technology, following a series of nominations and advisory appointments by President-elect Donald Trump, who takes office on Monday.
The crypto industry, after years of battling lawsuits and enforcement actions by the U.S. government, hopes the Trump administration will signal a policy shift. Officials will vet political appointees for potential conflicts, and some appointees have pledged to sell their interests.
The industry will host a sold-out black-tie ball in Washington on Friday, with ticket prices ranging from USD$2,500 to USD$10,000. David Sacks, serving as Trump’s artificial intelligence and crypto czar, plans to attend.
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The reasons for the optimism surrounding the cryptocurrency’s future don’t necessarily begin and end with Trump either.
The president-elect has filled his inner-circle with a number of different cryptocurrency friendly personalities, most of whom are well-known and well-respected in the space.
Scott Bessent, a billionare hedge fund manager, is Trump’s pick for Treasury Secretary. He has expressed favourable views on cryptocurrency. According to a financial disclosure filed last month, Bessent holds shares in a BlackRock bitcoin exchange-traded fund valued between $250,001 and $500,000.
“Crypto is about freedom and the crypto economy is here to stay,” he said in July. “I think everything is on the table with bitcoin.” ‘
In a letter to the U.S. Treasury last week, Bessent stated he would divest his interests in the fund and other investments within 90 days of his confirmation.
Further, Trump selected Tesla’s chief and the world’s richest man to lead a government cost-cutting initiative called the Department of Government Efficiency (DOGE).
Elon Musk, a longtime advocate for cryptocurrencies like bitcoin and dogecoin, has significantly influenced their prices through his public comments and the actions of his companies. The acronym for Musk’s cost-cutting agency, DOGE, references dogecoin, now the seventh-largest cryptocurrency with a circulation value of $4.5 billion, according to CoinGecko.
In 2021, Tesla purchased $1.5 billion in bitcoin, making it one of the largest companies to invest in cryptocurrency before selling most of its holdings. By September 2024, Tesla reported holding $184 million in unspecified digital assets, according to a financial statement. Musk did not respond to a request for comment via Tesla regarding his personal cryptocurrency holdings.
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Vice President-elect J.D. Vance held between USD$250,001 and USD$500,000 in bitcoin as of August 2024, according to a financial disclosure.
Vance co-founded the venture capital firm Narya, which has invested in Strive, Ramaswamy’s asset management company, and the video platform Rumble, as indicated on its website. In November, Rumble announced plans to allocate its excess cash reserves to bitcoin. The company also received a USD$775 million investment from stablecoin firm Tether last year.
When asked for comment on the crypto stances of Vance and Trump’s sons, Trump-Vance transition spokesperson Brian Hughes stated—without providing evidence—that bureaucrats in Washington had attempted to stifle innovation with increased regulation and higher taxes.
“President Trump will deliver on his promise to encourage American leadership in crypto and other emerging technologies,” he said in a statement.
Finally, set to collaborate with Musk at DOGE, former presidential candidate and entrepreneur Vivek Ramaswamy is the founder of Strive Asset Management.
Strive reported managing over USD$1 billion in assets as of September, and filed last month to launch an exchange-traded fund (ETF) that invests in corporate bonds for bitcoin investments.
In November, the company launched a wealth management arm aimed at integrating bitcoin into Americans’ investment portfolios, according to a press release from Ramaswamy.
In June 2023, Ramaswamy disclosed holding between $100,001 and $250,000 in bitcoin and between $15,001 and $50,000 in ether, a smaller cryptocurrency.
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