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Home Crypto News Analysis Satoshi-Era BTC Wallet Containing 616 Bitcoin Worth 29,470,042 USD Finally Woke Up...

Satoshi-Era BTC Wallet Containing 616 Bitcoin Worth 29,470,042 USD Finally Woke Up After 8.8 Years Of Inactivity

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Another Bitcoin wallet last used when Bitcoin was newly born is activated this year.

Data shared by the crypto-tracking service Whale Alert indicates that in the past 24 hours, another crypto wallet with Bitcoins purchased or mined 8.8 years ago has been woken up after a long period of inactivity.


The 1BamMXZBPLMwBT3UdyAAKy3ctGDbXNKoXk wallet contains 616 Bitcoins with a value of about $29,470,042. In 2012, 616 BTC were equivalent to just $6,667, which is an increase of 4,499 times.

This is not the first time that a dormant BTC wallet has been activated this year. Previously  TheCryptoBasic reported that a dormant wallet was activated in July containing 791 BTC.


Such an dormant wallet now activated could be seen as a bad sign, as the owners of these wallets most likely plan to sell their BTC now and then buy Bitcoin later at cheaper prices.

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Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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