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7,594% Gain Wakes Up Satoshi-Era Bitcoin Wallet: Details — TradingView News
According to Whale Alert, a dormant Bitcoin address has been activated after nearly 10 years.
Blockchain data tracker Whale Alert reports that a wallet containing 25 BTC has just been activated after 10.6 years. The value of the Bitcoin stash held in this wallet was $20,399 in 2013. This has skyrocketed to an incredible $1,569,552, marking an impressive gain of 7,594%.
💤 A dormant address containing 25 #BTC ($1,569,552) has just been activated after 10.6 years (worth $20,399 in 2013)! https://t.co/B19zQLk7Mt — Whale Alert (@whale_alert) July 15, 2024
Several dormant Bitcoin wallets have been reactivated in recent weeks. In the last 24 hours alone, a wallet containing 1,000 BTC that had been dormant for 11.8 years was reactivated.
The value of BTC in this particular wallet skyrocketed from $11,908 in 2012 to an astonishing $59,989,823. In another similar move, a Bitcoin wallet that held 25 BTC and had also held this stash for 10.6 years was reactivated on July 13.
Probable reasons
The activation of this long-dormant address has sparked curiosity and speculation in the crypto community. The sudden reactivation of the long-dormant wallet raises questions about the identity of the wallet holder and his or her reasons for reactivating the address after such a long period of inactivity.
Notably, the reactivation of this wallet comes at a time when Bitcoin is experiencing bullish momentum. Bitcoin surged to intraday highs of $63,393 after skyrocketing for three consecutive days.
This suggests that the wallet activation may have been a strategic move to capitalize on the current bullish market momentum. Perhaps the owner had to wait for the price of Bitcoin to increase, holding it for a significant number of years. Another scenario could be a long-lost wallet whose keys were just rediscovered. However, the exact motive in this particular context remains unknown.
At the time of writing, BTC is up 5.39% in the last 24 hours, reaching $63,000.