Bitcoin Wallet with 42,000% Profit Reawakens
A long-dormant Bitcoin (BTC) address has come back to life after more than 11 years. The wallet, which contains 100 BTC, made its first transaction on Thursday (29th), since 2013, according to data from Whale Alert.
Back in 2013, the 100 BTC in this wallet were worth $14,202, or an average of $142.02 per BTC. However, the appreciation of Bitcoin has caused its balance to skyrocket to $6 million, representing a gain of over 42,000% during this period.
Dormant Bitcoin Wallets: A Timely Return
Inactive addresses like this one often re-enter the market during significant price movements. Typically, this happens when their holders decide to cash in on the massive profits accumulated after years of patience and waiting.
The cryptocurrency community had various reactions to this event. Many investors expressed admiration for the unknown investor’s patience, having held onto the BTC for over a decade.
“Imagine holding 100 BTC for more than a decade and watching them grow from $14,000 to nearly $6 million. That’s the true definition of diamond hands,” commented one user on X.
A Pattern of Reactivation
Interestingly, this isn’t the first time in recent weeks that a dormant BTC address has been reactivated. On August 7, another wallet came back to life, transferring 250 BTC valued at nearly $14 million. This wallet had been inactive since 2010, with its BTC purchased for just $250.
Later, on August 17, another wallet, this time containing 18 BTC, was reactivated after 10 years. The investor had bought the BTC for $9,200 in 2014, but at current prices, the wallet is now worth $1.091 million.
A report by data platform Chainalysis estimated that there are over 1.7 million BTC addresses that have been inactive for more than ten years. This period of inactivity is popularly known as the "Satoshi era," in honor of Bitcoin's mysterious creator.
