Key Points:
- A dormant Bitcoin wallet holding 108 BTC (worth $6.06 million) was just activated after 10.7 years.
- In 2014, the 108 BTC was worth $87,000, now skyrocketing to over $6 million!
Whale Alert, a blockchain analytics service provider, reports the re-emergence of a 10.7-year-old dormant Bitcoin wallet address.
Bitcoin Wallet Awakens After 10.7 Years
This wallet contains 108 BTC, which is currently valued at roughly $6.06 million. This is far from Bitcoin‘s initial value in 2014, which was approximately $87,000. The sudden re-awakening of dormant Bitcoin wallets always sparks speculation in crypto. Since Bitcoin’s value dramatically increased within the past decade, questions would always arise concerning the owner’s intent, whether to sell, hold, or move the money into another wallet.
Read more: Certified Bitcoin Professional and the Benefits of Crypto Certification
From $87K to $6 Million Value
Such movements are closely watched by the Bitcoin community, for they may mean strong market action. Whale Alert, a popular tracker of large crypto transactions, termed this move suspicious since the wallet in question was long dormant. The reawakening of any address, but most of all, such a large amount of Bitcoin, can impact market sentiment.
In 2014, the price of Bitcoin was $800 per BTC. Fast-forward to 2024, and with Bitcoin trading at 56,000 USD per BTC, this wallet contains 108 BTC valued at roughly 6.06 million.
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Source: https://coincu.com/282178-dormant-bitcoin-wallet-awakens-after-10-7-years