U.Today – According to multiple sources, earlier today, a dormant wallet was reactivated by its anonymous owner. The last time this whale used his cryptocurrency wallet was 10.6 years ago.
Now, the value of the bitcoins it contains has skyrocketed by almost 8,000%, making its owner a millionaire. This is the fourth dormant BTC wallet to have been awakened over the past week.
Satoshi-era Bitcoin wallet wakes up with millions in BTC
Transaction tracker Whale Alert and on-chain analytics platform Spot On Chain have noted the awakening of the aforementioned whale, which holds 1,004 BTC.
While this wallet purchased these coins in 2013 and 2014 at an average price of $731 and back then this cryptocurrency was worth $737,000, by now, it has seen a massive 7,634% price increase and is valued at a staggering $56,924,352.
Chinese cryptocurrency journalist and blogger Colin Wu has reported that this dormant whale has already transferred all of his cryptocurrencies to a new wallet. Earlier this week, three other dormant wallets came back to life with a large amount of bitcoins: $1.14 million, $2.6 million, and $6.9 million in bitcoin equivalent.
Bitcoin recovers $56,000 after falling below $54,000
Over the past 24 hours, the world’s leading cryptocurrency, Bitcoin, has seen a nice rise of 4.56%. BTC has managed to recover after falling slightly below the $54,000 level on Friday and, at the time of writing, is trading in the $56,500 zone.
The price increase came despite the fact that the US and German governments continued to dump large amounts of Bitcoin into the market, and now Mt. Gox has joined them. The cryptocurrency exchange platform, which has been operating for the past 10 years and has failed to function, has finally started paying out the Bitcoins it holds to its investors and traders.
Still, a positive June nonfarm payrolls report was released on Friday, showing an increase in employment, and this allowed Bitcoin to recover some of its recent losses.
This article was originally published on U.Today
