According to Whale Alert, a long-dormant Bitcoin address from the early days of Bitcoin has been reactivated, bringing a staggering gain of 169,358,650%.

Historic Address with 50 B$BTC Reactivates After Over 14 Years

An address holding 50 BTC, now worth nearly $3.39 million, has been reactivated after 14.3 years of inactivity. Back in 2010, these bitcoins were worth only $2.

Whale Alert noted that the address is from the "Satoshi era," a period when Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was still active in the crypto community. The identity of this whale remains unknown, leading to speculation about their motives after holding BTC for so long.

Early Miner or Rediscovered Keys?

According to the on-chain analysis platform Lookonchain, the address likely belonged to an early miner who earned 50 BTC through a block reward on July 13, 2010. Lookonchain shared in a tweet that this miner moved the 50 BTC, now worth around $3.05 million, after over 14 years.

The exact reason for the activation is unknown, but the whale might have decided to cash out after Bitcoin’s dramatic increase in value over the past 14 years, or perhaps the miner simply rediscovered the wallet keys.

Bitcoin Price and Current Macroeconomic Situation

On Thursday, cryptocurrencies surged, offsetting a recent slight decline after Bitcoin’s unsuccessful attempt to reclaim the $70,000 level. Bitcoin’s price rose by 1% over the last 24 hours, hovering around $67,508.

In the macroeconomic arena, traders are closely monitoring comments from Federal Reserve members about a potential 50-basis-point rate cut in September and further developments.

According to CME’s FedWatch, there is a 97% chance the Fed will cut rates by 25 basis points in November.

#BTC☀ , #SatoshiNakamoto , #BitcoinWhale , #Cryptocurrencies , #CryptoTransaction


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