[Dormant Bitcoin whale explodes with massive 63,946% profit]
Well-known blockchain tracker Whale Alert reports that a Bitcoin wallet that has been dormant since 2013 is active again with 26 Bitcoins in it, now worth $1,663,917. In 2013, these Bitcoins were worth just $2,598, a gain of 63,946.1%.
Earlier this week, several other dormant Bitcoin whales were reactivated after a decade. The reactivation of these wallets usually occurs because their owners recover their private keys and then sell some or all of their Bitcoins.
Well-known on-chain data aggregator Santiment has seen a significant drop in the total number of wallets holding at least one Bitcoin. Santiment posted that the number of Bitcoin holders is declining sharply as traders believe that the price of Bitcoin will struggle to surpass the all-time high of $73,750 in March this year. There are 672,510 fewer Bitcoin holders in total compared to June.
Santiment later pointed out that the massive Bitcoin sell-off has only increased the likelihood of a Bitcoin rebound.
At press time, Bitcoin was trading at $64,033, down about 2.8% since Wednesday.
