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User Moves 59 Bitcoin After 13.1 Years, Turning $524 into $3.8M
As the broader crypto market records a slight recovery, a dormant Bitcoin wallet holding over 59 BTC has reawakened after 13.1 years of inactivity.Â
First Transaction in 13.1 Years
This latest bitcoin news today, reported by the leading crypto whale tracking service Whale Alert, shows that the owner of the long-standing dormant Bitcoin wallet initiated their first transaction today at 03:36 a.m. (UTC) after staying idle for 13.1 years.Â
A closer look at the recent transaction shows that the dormant wallet transferred 0.00000778 BTC ($0.49) to a newly created wallet about an hour ago. This was possibly a test transaction.
Ever since, the source wallet has not initiated any other transaction, as it currently holds 59.723 BTC, according to data from Arkham Intelligence.Â
User Makes an Astounding 725,357% ProfitÂ
Before todayâs transaction, Whale Alert noted that the wallet had been inactive for 13.1 years. This implies that the wallet had not made any transactions since August 2011.Â
Data from Statmuse confirms that Bitcoinâs closing price in August 2011 was around $8.79. At this price, the wallet, which contained 59.723 BTC, was worth $524.96.Â
Interestingly, the Bitcoin stash is now valued at $3,808,364 ($3.8 million). This suggests that the walletâs owner made a jaw-dropping profit of $3,807,839, representing an ROI of 725,357%.Â
Bitcoin Price Surge Despite ReawakeningÂ
Expectedly, the development captured the attention of crypto enthusiasts. For context, Bitcoinâs price has risen 2.95% in the past 24 hours to $63,767. At this price, the premier asset has registered a rally of 10.52% in the weekly chart.
It is interesting to note that the broader market has been showing signs of recovery this month. Interestingly, the highly anticipated recovery might finally be on the cards, as Bitcoin looks set to surpass its one-month high of $64,996.Â