Dormant Bitcoin (BTC) Address Springs Back to Life After 10,400% Gain
After 10.6 years of dormancy, another Bitcoin (BTC) address has reemerged in the ecosystem. According to Whale Alert, the Bitcoin address contained 149 BTC, valued at $8,590,673 at the time of reactivation.
Right Time for a Comeback
Many Bitcoin wallets have resurfaced over the past few months. While each of these wallets has unique reasons for returning from dormancy, the substantial gains accrued over time are a major catalyst for this revival.
This latest return boasts an impressive 10,400% gain. When the wallet received the 149 BTC it held all these years, the value of the coins was approximately $81,667 in 2013. Now, with a valuation exceeding $8.5 million, this whale has achieved one of the biggest trading profits in the market.
💤 A dormant address containing 149 #BTC (8,590,673 USD) has just been activated after 10.6 years (worth 81,667 USD in 2013)!
https://t.co/oL0l1mbVlr
— Whale Alert (@whale_alert) July 9, 2024
From 2013 to the present, Bitcoin has reached several milestones. These include the first major all-time high (ATH) above $17,000 in 2017, over $69,000 in November 2021, and recently $73,750. The whale might have decided that waiting any longer seemed unnecessary.
Joining a New Bitcoin Era
Unlike many Bitcoin addresses that return to the ecosystem, there is no indication of funds transfer from this whale. It remains unclear when or where this Bitcoin address will choose to liquidate its holdings.
Should they decide to move the funds, there are numerous options available due to the remarkable growth of the Bitcoin ecosystem. With DeFi on Bitcoin and Ordinals Inscription, a delayed sell-off might prove beneficial in the end.
As of now, Bitcoin’s price has increased by 1.89% in the past 24 hours, reaching $58,681.74, a significant relief after an extensive drawdown.