U.Today – Prominent blockchain tracker Whale Alert reported that just over two hours ago, a dormant BTC wallet became active again after remaining dormant since 2013.
The wallet doesn't contain many BTC, however, there is enough to make its owner a millionaire thanks to the massive profits made over those 11 years.
Bitcoin wallet from the Satoshi era is reactivated
The aforementioned data source indicated that this anonymous wallet had been reactivated after nearly a dozen years of inactivity. It contains 26 bitcoins worth $1,663,917 at the current exchange rate.
In 2013, this amount of BTC was valued at just $2,598. The difference between these two values constitutes a staggering 63,946.1% increase in the value of Bitcoin.
As reported by U.Today earlier this week, several other dormant Bitcoin whales have put their funds into motion after lying dormant for 10 years or more — the days when the shadow of Bitcoin’s mysterious creator Satoshi Nakamoto was still present, with certain members of the BTC community recalling chatting with him on the BitcoinTalk forum.
Quite often, dormant Bitcoin wallets become active again after a decade, as their owners manage to recover the lost private keys to their BTC stored in cold storage. However, once these wallets are reactivated, whales start selling some or all of their Bitcoin.
The number of Bitcoin holders falls dramatically
Earlier this week, popular on-chain data aggregator Santiment noticed a massive decrease in the total number of wallets holding at least one BTC.
“The number of Bitcoin holders has been falling aggressively,” Santiment’s tweet stated, naming a key reason for this: traders believe that the price of the world’s flagship cryptocurrency will hardly rise beyond the all-time high reached by Bitcoin in March of this year. Back then, BTC soared to reach $73,750. The total number of Bitcoin holders (with more than zero BTC) has decreased by 672,510 compared to June.
However, Santiment then noted that such massive Bitcoin liquidations only increase the likelihood of a continued BTC rally.
At the time of writing, Bitcoin is trading at $64,033. Since Wednesday, Bitcoin has seen a total drop of almost 2.8%.
This article was originally published on U.Today
