Bitcoin
7,594% Gain Awakens Satoshi-Era Bitcoin Wallet: Details by U.Today
U.Today – According to Whale Alert, an inactive address has been activated after almost 10 years.
Blockchain data tracker Whale Alert reports that a wallet containing 25 BTC has just been activated after 10.6 years. The value of the Bitcoin stash held in this wallet was $20,399 in 2013. This has skyrocketed to a staggering $1,569,552, marking a staggering gain of 7,594%.
Several dormant Bitcoin wallets have been reactivated in recent weeks. In the past 24 hours alone, a wallet containing 1,000 BTC that had been dormant for 11.8 years was reactivated.
The value of BTC in this particular wallet skyrocketed from $11,908 in 2012 to a staggering $59,989,823. In another similar move, a Bitcoin wallet that contained 25 BTC and had also held that stash for 10.6 years was reactivated on July 13.
Probable reasons
The activation of this long-dormant address has sparked curiosity and speculation within the crypto community. The sudden reactivation of the long-dormant wallet raises questions about the identity of the wallet holder and their reasons for reactivating the address after such a prolonged period of inactivity.
Notably, the reactivation of this wallet comes at a time when Bitcoin is experiencing a bullish momentum. Bitcoin surged to intraday highs of $63,393 after surging for three consecutive days.
This suggests that the wallet’s activation may have been a strategic move to capitalize on the current bull market momentum. Perhaps the owner had to wait for the price of Bitcoin to appreciate, holding onto it for a significant number of years. Another scenario could be a long-lost wallet whose keys have just been rediscovered. However, the exact motive in this particular context remains unknown.
At the time of writing, BTC is up 5.39% in the past 24 hours to $63,000.