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.
?? A dormant address containing 616 #BTC (29,470,042 USD) has just been activated after 8.8 years (worth 6,667 USD in 2012)!https://t.co/tr6lgToZPO
— Whale Alert (@whale_alert) September 19, 2021
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.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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