As the broader crypto market records a slight recovery, a dormant Bitcoin wallet holding over 59 BTC has reawakened after 13.1 years of inactivity.
First Transaction in 13.1 Years
This latest bitcoin news today, reported by the leading crypto whale tracking service Whale Alert, shows that the owner of the long-standing dormant Bitcoin wallet initiated their first transaction today at 03:36 a.m. (UTC) after staying idle for 13.1 years.
A closer look at the recent transaction shows that the dormant wallet transferred 0.00000778 BTC ($0.49) to a newly created wallet about an hour ago. This was possibly a test transaction.
Ever since, the source wallet has not initiated any other transaction, as it currently holds 59.723 BTC, according to data from Arkham Intelligence.
User Makes an Astounding 725,357% Profit
Before today’s transaction, Whale Alert noted that the wallet had been inactive for 13.1 years. This implies that the wallet had not made any transactions since August 2011.
Data from Statmuse confirms that Bitcoin’s closing price in August 2011 was around $8.79. At this price, the wallet, which contained 59.723 BTC, was worth $524.96.
Interestingly, the Bitcoin stash is now valued at $3,808,364 ($3.8 million). This suggests that the wallet’s owner made a jaw-dropping profit of $3,807,839, representing an ROI of 725,357%.
Bitcoin Price Surge Despite Reawakening
Expectedly, the development captured the attention of crypto enthusiasts. For context, Bitcoin’s price has risen 2.95% in the past 24 hours to $63,767. At this price, the premier asset has registered a rally of 10.52% in the weekly chart.
It is interesting to note that the broader market has been showing signs of recovery this month. Interestingly, the highly anticipated recovery might finally be on the cards, as Bitcoin looks set to surpass its one-month high of $64,996, registered on August 26.
Recent Reawakening of Dormant Addresses
Meanwhile, the awakening of the 13.1-year Bitcoin wallet reflects a growing trend witnessed in recent times. The Crypto Basic has reported a handful of dormant crypto addresses returning to life after staying idle for several years.
Yesterday, an address that participated in Ethereum’s ICO deposited 10,000 ETH to the Kraken exchange after staying dormant for two years. Earlier this week, another dormant address that has been inactive for 8.5 years transferred 16,636 ETH to three different wallets.
Last week, a 13-month dormant Bitcoin address came out of hibernation to deposit 203 BTC to Binance.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2024/09/20/user-moves-59-bitcoin-after-13-1-years-turning-524-into-3-8m/?utm_source=rss&utm_medium=rss&utm_campaign=user-moves-59-bitcoin-after-13-1-years-turning-524-into-3-8m