2024-5-7 15:51 |
A dormant “Satoshi Era” wallet containing 687 Bitcoin valued at approximately $43.9 million has been activated after a decade of inactivity. The wallet, which first received the Bitcoin in 2014, has been dormant since then, accumulating a staggering 7446.58% profit due to the cryptocurrency’s price appreciation.
According to Lookonchain, a service that tracks large crypto transactions, the wallet was first activated on January 12, 2014, when the Bitcoin price was around $917 per coin. It has been untouched since then, and Bitcoin has held its value high despite the market’s volatility.
The wallet’s sudden awakening has sparked curiosity among the crypto community, with many speculating about the story behind the 687 Bitcoin.
“Whoa, talk about a blast from the past! Imagine leaving that kind of treasure untouched for over a decade and then deciding,” one user on social media wrote, adding, “Hey, maybe it’s time to wake up. Wonder what story lies behind those 687 BTC making a comeback after all these years. It’s like finding buried treasure in the crypto world!”
Notably, this latest development is not unique, as numerous dormant wallets have come to life after long periods of inactivity. Several Satoshi-era wallets have been activated in recent months, transferring their Bitcoin holdings to new addresses or crypto exchanges. These wallets are believed to be linked to early miners or buyers looking to take profits after nearly a decade.
In March, a wallet that had been dormant for 11.7 years transferred 500 Bitcoin, worth about $34.78 million, to multiple new wallets. This wallet received 500 Bitcoin on July 14, 2012, when the price of Bitcoin was only $7.57.
On April 5, another whale, dormant for eight months, transferred 2,000 Bitcoins worth $132.41 million to a new wallet. Later in the month, a miner wallet awoke after being dormant for nearly 14 years and deposited 50 Bitcoin worth $3.28 million to Coinbase. According to Lookonchain, the miner earned 50 Bitcoin from mining on April 23, 2010, and held it until April 15, 2024.
Notably, according to data from Bitinfocharts, approximately 17.92 million BTC remained untouched for at least 10 years now, with many believed to be linked to early adopters of the cryptocurrency, such as early miners or buyers looking to take profits.
Bitcoin was trading at $63,512 at press time, reflecting a 0.29% loss over the past 24 hours, as per CoinMarketCap.
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