TL;DR
- A Bitcoin wallet inactive for over 14 years has been reactivated, achieving a gain of 169,358,650%.
- It contained 50 BTC, which in 2010 were worth only $2 and today are valued at more than $3.3 million.
- The wallet is believed to have belonged to a miner who earned the BTC as a reward in 2010.
One of the oldest Bitcoin wallets, known for having been inactive since the early days of the cryptocurrency, has been reactivated after more than 14 years of silence.
This wallet, which contained 50 BTC valued at only $2 in 2010, is now worth approximately $3,387,175, reflecting an extraordinary increase of 169,358,650%.
The reactivation was detected by the Whale Alert platform, which monitors unusual movements of large sums of cryptocurrencies.
The address in question dates back to the so-called “Satoshi era,” a period when Bitcoin’s anonymous creator, Satoshi Nakamoto, was still active within the crypto community.
The fact that this wallet has remained inactive for so long has generated multiple speculations among users, some suggesting that it could be someone who rediscovered the wallet’s private keys, while others believe the owner simply decided to finally liquidate part of their funds.
The original information was disseminated by Whale Alert through its official Twitter account.
According to the analysis from the Lookonchain platform, this wallet likely belonged to an early miner who earned the 50 BTC as a reward for processing a block on July 13, 2010.
In those days, mining rewards were significantly higher, and the value of Bitcoin had not yet taken off in the markets.
Now, more than a decade later, the value of those same 50 BTC has multiplied exponentially, highlighting the volatility and growth potential of cryptocurrencies.
Implications of Bitcoin movement
The resurgence of this wallet has sparked great interest within the crypto community, as these activations of “sleeping whales” often generate movements in the markets.
Although the owner of the BTC has not yet revealed their identity or intentions, such transactions can impact the price of Bitcoin, as a massive sale could lead to a market correction.
However, at the moment, no additional movements have been reported suggesting an immediate liquidation of these funds.
As for the Bitcoin market, it has been fluctuating in recent weeks, with the current price hovering around $67,508.
Despite recent drops since its attempt to reach $70,000, the cryptocurrency continues to show strength.
Financial experts are also awaiting the next decision by the U.S. Federal Reserve, which could impact the economy and, therefore, the price of Bitcoin and other cryptocurrencies.
The reactivation of this wallet is another reminder of Bitcoin’s long-term potential, though it also reflects the inherent risks of market volatility.
Investors and observers will continue to be alert to any sign of sale or movement by this Bitcoin “whale” that has returned to the scene after more than a decade of inactivity.
