Dormant Bitcoin Address with $115 Million Activated After a Decade
WhaleAlert, a blockchain tracking tool analyzing transactions across various blockchains, reported the reactivation of a dormant Bitcoin address containing $115.4 million for the first time in over a decade on Saturday.
With Bitcoin trading at just $440 a decade ago, this resurgence signifies an astronomical increase of over 15,600% in wealth for the whales.
💤 💤 💤 💤 💤 💤 💤 💤 💤 💤 A dormant address containing 1,701 #BTC (115,417,623 USD) has just been activated after 10.1 years (worth 1,060,796 USD in 2014)!https://t.co/qSaOsnUV89
— Whale Alert (@whale_alert) April 6, 2024
The sudden reactivation of the whale address has sparked significant interest within the cryptocurrency community.
Speculation abounds regarding the reasons behind this event, with some suggesting it may be a Bitcoin investor with strong conviction (diamond hands), while others propose the possibility of the investor rediscovering lost keys to their Bitcoin fortune.
Interestingly, the activation of the $115 million Bitcoin address occurred shortly before the impending halving event, reducing the block subsidy reward to 3.125 BTC.
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While it remains unclear if these events are related, some social media users speculate that the whale might engage in significant selling before the halving event.
It’s noteworthy that Satoshi Nakamoto, the creator of Bitcoin, has not been heard from since 2014.
However, transactions involving addresses from the Satoshi era occasionally occur. For instance, in 2022, a whale from 2013 moved more than $100 million worth of Bitcoin.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
