🔔Ring the bells, Bitcoiners!🔔 A Bitcoin wallet that had been snoozing for 14 years has just woken up!💤➡️🚀 According to Lookonchain, an early Bitcoin miner's wallet, dormant since 2010, has transferred its entire balance of 50 BTC (worth a cool $3.05M) to Binance. Back in the day, this miner earned the 50 BTC as a mining reward.
In 2010, BTC was trading for less than a dollar. Fast forward to today, and it's hovering around $61,000!💰📈 That's some serious HODLing, folks!
This isn't the first time we've seen a long-dormant wallet spring to life. It's happened several times before, with wallets from the Satoshi era (2009-2011) making similar moves.
In March 2022, a wallet containing 489 BTC ($20M) was reactivated after 11.4 years of dormancy, achieving a return of 42,000,000%! Then, in July and August 2023, two significant whale wallets, inactive for over a decade, moved thousands of BTC.
Most recently, in April 2024, another 14-year dormant wallet moved 50 BTC (worth over $3.28M) to Coinbase. Plus, a major Bitcoin holder who had been hibernating for a decade transferred 246 BTC from an address holding 1,701 BTC.
So, what does this mean for the market?🤔 It could signal renewed interest from early adopters, or it might indicate that these old-timers are planning to sell. Either way, it's a fascinating glimpse into the world of early Bitcoin mining and the potential value of patience and HODLing! 🚀🌕