One block mining made the early miners millionaires who hodded their Bitcoins (BTC) until the BTC hit $ 20,000.
Mining has over time become an industry with players investing millions of dollars in high tech equipment.
50 BTC easily earned: the good times made millionaires
In a tweet of December 17, 2020, Glassnode indicates early minors who received at epoch 50 BTC as block rewards, are now millionaires.
Data from Glassnode indicate that the number of addresses Bitcoin whose asset value is valued at at least $ 1 million, increased by 150% in the week of December 14, 2020 to reach 66,540 units.
This increase is mainly due to early minors who have kept their Bitcoins over the years until the total value of their BTC then exceeds one million dollars.
900 BTC devoured by institutions
The rally of Bitcoin accelerated on December 17, 2020, the price of BTC had reached 23,000 USD. On-chain data then suggested that a new upward trajectory could be imminent as Bitcoin entered a new price phase.
Bitcoin then crossed $ 24,000 on December 19, 2020.
While the early miners BTC enjoyed larger block rewards, the markets in which they operated were much more speculative and volatile.
Miners who recently entered the industry only receive 6.25 BTC as a block reward but, they are assured that their efforts will be rewarded as and Bitcoin evolving into a mainstream crypto.
About 900 BTC are mined every day, a quantity rapidly absorbed in the markets thanks to a growing demand from institutional investors like Grayscale or MicroStrategy.
Mining Bitcoin in your bachelor room or in mom and daddy’s living room with your PC, it’s unfortunately over! What lessons can be learned from the “vein” of early miners: always invest at least in a newly launched crypto project? DeFi is only in its infancy, so those who shout at the bubble will miss this train too. Another important investment tip: read The Coin Tribune daily to stay informed of new opportunities.
Litecoin, welcome in the Silver Age