Whale Alert reported approximately an hour ago that another Bitcoin whale came back to life over the past couple of weeks.
This wallet again holds a substantial amount of more than one million U.S. dollars.
Ancient Bitcoin wallet reactivated with 6,924% profit
The aforementioned blockchain sleuth that follows large cryptocurrency transactions and then shares the details on the X social media app has spilled the beans about a dormant wallet that was “switched on” after staying inactive for almost eleven years – since 2013.
Back then, when the wallet was last used, the 25 Bitcoins it contained were evaluated at $20,399. At the current Bitcoin price, this amount of crypto is worth $1,432,968 – that is a 6,924.69% price increase, which has made its mysterious owner a millionaire after all these years.
💤 A dormant address containing 25 #BTC (1,432,968 USD) has just been activated after 10.6 years (worth 20,399 USD in 2013)!https://t.co/PPCeLOGD0b
— Whale Alert (@whale_alert) July 12, 2024
This month slightly fewer than a dozen Bitcoin wallets returned from dormancy after a decade, most of them containing at least one million U.S. dollars in BTC. The wallet, which awakened on July 6, held an impressive $56,924,352.
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Bitcoin forming Double Top on chart
The world’s flagship cryptocurrency, Bitcoin, seems to be forming a reverse pattern Double Top on the hourly chart. If this pattern is validated, BTC may face another plunge after recovering from the $54,975 level since Monday.
BTC has added almost 8% from Monday to Thursday, rising to the $59,350 zone. For the second time this week, Bitcoin has attempted to overcome this resistance but failed and took a dip of 4.37%. By now, BTC has slightly recovered and is changing hands at $57,550.
In the meantime, the German government continues to dispose of the Bitcoin it confiscated from the Movie2k pirate website in January. Today, this powerful entity again transferred 2,700 BTC worth $154.4 million to centralized cryptocurrency exchanges.
Its previous Bitcoin transfers were made to Kraken, Bitstamp and Coinbase to sell the crypto. As of this writing, the German government still holds 6,394 BTC valued at $366 million.
Yesterday, German authorities transferred 10,627 BTC and received $616 million in return after selling it at roughly $57,976. However, the government then bought back 4,169 BTC for $240 million at approximately $57,469 per coin.
