According to data shared by the popular blockchain tracking service Whale Alert, less than two hours ago, a dormant Bitcoin address was reactivated after almost a dozen years of inactivity.
This whale has seen his BTC stash skyrocket tremendously from merely $14,202 worth of it over all those years.
Ancient Bitcoin wallet awakens
The above-mentioned dormant wallet contains 100 BTC. This amount of the worldâs largest pioneer cryptocurrency is currently valued at $5,964,455, while back in 2013, when this wallet was last used, it was worth only $14,202, according to the tweet.
This difference in the fiat value of this Bitcoin lump signifies a massive 41,897% rise.
đ€ A dormant address containing 100 #BTC (5,964,455 USD) has just been activated after 11.4 years (worth 14,202 USD in 2013)!https://t.co/r5GvC0ktdi
â Whale Alert (@whale_alert) August 29, 2024
Crypto community members in the comments speculated as to the reason of the walletâs awakening at this very moment, concluding that this whale is a âdiamond holderâ and that they are likely to sell the dormant Bitcoin now to make some healthy profits.
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$855 million in Bitcoin bought on Coinbase by new whales
As covered by U.Today, over the past month, around a dozen dormant Bitcoin wallet awakenings were reported by Whale Alert. As a rule, these are indeed tight Bitcoin holders or, frequently, these whales simply lose their private keys and are suddenly able to recover them only 10-13 years later.
There have been some more massive BTC transfers reported by Whale Alert today â they were two transfers made from the largest U.S.-based cryptocurrency exchange Coinbase to unknown new wallets. Those two transfers were cumulatively worth almost $900 million. Each transaction carried 7,999 BTC, with a slight difference in the fiat equivalent - $472,800,932 and $472,800,936.
đš đš đš đš đš đš đš đš đš đš 7,999 #BTC (472,800,932 USD) transferred from #Coinbase to unknown new wallethttps://t.co/vHIW47bcaS
â Whale Alert (@whale_alert) August 29, 2024
Since both anonymous wallets are brand new, the market is likely witnessing the birth of two new Bitcoin whales.
On Wednesday, Bitcoin experienced a staggering decline of 5.57%, falling from $62,000 to $58,650. That was followed by a rise of 2.64%, but then BTC again went down and is currently trading at $59,652.
