Crypto:
30349
Bitcoin:
$64.248
% 0.48
BTC Dominance:
%54.0
% 0.22
Market Cap:
$2.34 T
% 1.02
Fear & Greed:
63 / 100
Bitcoin:
$ 64.248
BTC Dominance:
% 54.0
Market Cap:
$2.34 T

Bitcoin Wallet Dormant for 11 Years Wakes Up, Transfers $30.4 Million

Bitcoin, Btc

In a surprising turn of events, a Bitcoin wallet that had been inactive for nearly 11 years has suddenly sprung back to life, transferring a massive amount of BTC. The wallet, which had been dormant since January 12, 2014, sent out a total of 500 BTC, worth approximately $30.4 million at current prices.

According to data provided by Lookonchain, the whale had purchased the entire 500 BTC back in 2014 for a mere $62,000. This means that the whale’s investment has grown by over 500x in the past 11 years, a remarkable return that highlights the potential of long-term cryptocurrency investing.

The sudden reactivation of this dormant wallet has sparked speculation within the crypto community. Some believe that the whale may be a patient investor who has simply been holding onto their BTC for the long haul, while others speculate that the wallet may have been lost or forgotten and has only recently been rediscovered.

It is also unclear what the whale’s intentions are for the transferred BTC. They may be planning to sell the coins on a cryptocurrency exchange, or they may be moving them to another cold storage wallet for safekeeping. It is also possible that the whale sold the BTC over-the-counter (OTC) to avoid impacting the market.

Regardless of the whale’s motives, the reactivation of this dormant wallet is a reminder of the vast amount of Bitcoin that is still held in inactive wallets around the world. These dormant coins represent a significant portion of the total Bitcoin supply, and their potential release into the market could have a major impact on the price of BTC.

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