Dormant Bitcoin Whale Explodes to Life With Massive 63,946% Profit

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As a seasoned researcher with extensive experience in tracking cryptocurrency market trends, I find the recent activation of a Bitcoin wallet that has been dormant since 2013 to be a fascinating development. The wallet contains just 26 Bitcoins, but given the significant appreciation in BTC‘s value over the past decade, these coins are now worth $1.7 million.

Approximately two hours ago, a Bitcoin wallet that had been inactive since 2013 was recently reactivated, according to well-known blockchain monitor Whale Alert.

Although the wallet holds a modest amount of Bitcoin, its owner could still become a millionaire due to the substantial gains accrued over the past eleven years.

Satoshi-era Bitcoin wallet reactivated

Previously mentioned data provider revealed that an unidentified Bitcoin wallet, which had been inactive for around eleven years, had recently been re-activated. The balance of this wallet amounts to 26 Bitcoins, equivalent to approximately $1,663,917 based on the current Bitcoin-USD exchange rate.

In the year 2013, that quantity of Bitcoin was worth just $2,598. This represents an incredible 63,946.1% growth in Bitcoin’s value when compared to its worth today.

An inactive Bitcoin address holding approximately 26 bitcoins, equivalent to around $1,663,917 at current value, has recently become active again after being dormant for over a decade – roughly $2,598 worth of Bitcoin back in 2013.

— Whale Alert (@whale_alert) July 19, 2024

According to U.Today’s recent report, some long-dormant Bitcoini millionaires have recently activated their wallets for the first time in over a decade. This period covers the early days of Bitcoin when the elusive Satoshi Nakamoto, Bitcoin’s creator, was still an active participant in the community. Some members recall engaging in discussions with him on the BitcoinTalk forum.

Occasionally, Bitcoin wallets that have been inactive for over a decade are reactivated when their owners successfully recover their lost private keys. Following this revival, large Bitcoin holders, known as “whales,” often sell a portion or even the entirety of their BTC holdings.

Bitcoin holder count drops sharply

As someone who closely follows the cryptocurrency market and its trends, I was taken aback by the recent observation made by Santiment, a well-known on-chain data aggregator. Earlier this week, they reported a significant decrease in the number of wallets holding at least one Bitcoin (BTC). This is noteworthy because such a decline can often be indicative of weakening investor sentiment or even potential selling pressure on the world’s largest cryptocurrency by market capitalization.

“According to Santiment’s recent tweet, the number of Bitcoin holders has been decreasing significantly. A major contributor to this trend is the widespread belief among traders that Bitcoin’s price won’t surpass its all-time high of $73,750 set in March this year. Consequently, the total count of Bitcoin owners with more than zero coins has dropped by approximately 672,510 since June.”

Santiment noted that these extensive Bitcoin sell-offs actually boost the likelihood of a subsequent price recovery for Bitcoin.

Currently, the price for one Bitcoin is around $64,033. In the past few days, there has been a nearly 2.8% decrease in Bitcoin’s value since Wednesday.

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2024-07-19 16:15