Decade Old Dormant Bitcoin (BTC) Address Wakes Up To 10,419% Profit

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As an analyst with extensive experience in the cryptocurrency market, I find the recent activity on dormant Bitcoin addresses quite intriguing. The sudden reactivation of a Bitcoin address that has been dormant for over ten years and now holds almost $8.6 million worth of Bitcoin is an extraordinary sight. This represents a mind-boggling profit of over 10,000% in just a decade.

I’ve noticed some activity on a Bitcoin address that has been inactive for a long time, holding approximately 149 Bitcoins (BTC) themselves.

Huge Gains on Dormant Bitcoin Addresses

As a seasoned crypto investor, I keep my eyes peeled on the latest developments in the Bitcoin world. Recently, Whale Alert, a popular blockchain tracking service, announced an intriguing find. They reported the sudden reactivation of a specific Bitcoin address that had been inactive for approximately ten and a half years. This long-dormant address is now back in action, sparking curiosity and speculation among the crypto community.

An inactive Bitcoin address holding approximately 149 bitcoins (equivalent to around 8,590,673 USD as of current value) has recently become active after a period of over 10.6 years, which was equivalent to roughly 81,667 USD back in 2013.

— Whale Alert (@whale_alert) July 9, 2024

In 2013, an address holding 149 Bitcoins had a value of merely $81,667. However, Bitcoin has experienced remarkable growth over the past decade, with some volatility. The cryptocurrency reached an unprecedented peak (ATH) of over $73,000. As of now, one Bitcoin is worth approximately $57,819.04 on the market, representing a 2.85% price increase in the last 24 hours based on CoinMarketCap data.

In just over ten years, the value of 149 Bitcoins has surpassed $8.6 million, representing an impressive gain of approximately 10,419%. This is a significant profit and is noteworthy as it places among the highest returns ever seen in a dormant Bitcoin wallet.

Over the past two weeks, numerous Bitcoin (BTC) inactive addresses have displayed unexpected signs of life. Recently, Whale Alert detected the revival of a wallet that had lain dormant for around 11.1 years, containing 20 BTC. At the time, this stash was valued at $1.13 million according to Bitcoin’s market price. Today, the equivalent value stands at $1.15 million.

Approximately two days prior, a different wallet containing approximately 43 Bitcoins, worth around $2.5 million, became active. Lately, these addresses have been liquidating their Bitcoin holdings, coinciding with a significant price drop. This development has raised concerns within the crypto community, as the market is currently experiencing substantial selling pressure.

Crypto Industry Experience Renewed Hope

Today has been superior to any day over the past two weeks. The German government, which had been actively selling Bitcoin, bought back over 3,000 units. The sentiment towards Bitcoin, Ethereum, and other digital currencies improved significantly. Prices for most of these cryptocurrencies rose by between 2% and 13%, indicating a recovery for the market.

The unexpectedly bullish market trend can be attributed largely to Jerome Powell’s testimony before the Senate Banking Committee on Tuesday. Previously reported, Powell discussed inflation and potential interest rate reductions with the committee. However, it remains uncertain if inflation will return to its 2% target at this time.

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2024-07-09 23:36