Bitcoin Addresses Holding 100 BTC Activated for the First Time in 12.4 Years.
? A dormant address containing 50 #BTC (2,158,390 USD) has just been activated after 12.4 years!https://t.co/SWsq8ubLVm
— Whale Alert (@whale_alert) April 7, 2022
? A dormant address containing 50 #BTC (2,165,186 USD) has just been activated after 12.4 years!https://t.co/l4nWRMAz66
— Whale Alert (@whale_alert) April 7, 2022
Bitcoin whales are becoming active recently as they are buying up more of the digital asset in preparation for a leg up. As a result, static addresses are becoming active again.
Notably, two addresses holding 50 BTC have become active after 12.4 years. These must be wallets belonging to pioneer Bitcoin holders, as the entire industry has been around for only about 13 years. The two wallets may belong to the same investor as they become active simultaneously, less than an hour between them.
It is not clear if the address owner(s) lost their wallet keys until now or were just ardent “hodlers,” but they may be planning to either buy more Bitcoin or sell the ones they have to take profits after all these years.
A 50 million percent gain
It’s been roughly 12 years since the wallets were last active. At the time around 2010, Bitcoin was worth approximately $0.08 apiece. Having held it for this long, the wallets have appreciated by roughly 53,750,000 (53.7M) percent to the current price of over $43,000.
In U.S Dollars, each of the wallets is worth roughly 2,177,069, making the owners millionaires who only invested $4 each to acquire the Bitcoins at the time. If the two wallets belong to the same investor, he has made roughly 4,354,138 from investing just $8.
Twitter Users’ Reaction
Several users of the popular microblogging platform Twitter gave different reasons. Many suggested that it could be possible the owner misplaced the wallets, while others noted that the idle funds resulted from the unavailability of the owner.
“Dude found that hard drive in his old stuff at mom’s house and experienced the most euphoria he’s ever had,” @Mitchelloffgrid said in a comment.
Many investors holding on
There are many other early investors that are holding their Bitcoin for the long term. Whale Alerts has reported many such investors who have become whales, moving their Bitcoin after several years of dormancy. This is good for the asset as the more they hold, the more likely the asset is to appreciate in value.
Not New but Unique
Although this is not the first time an idle Bitcoin wallet address will be reactivated, the development is currently one of the longest periods a wallet containing BTC has been left inactive.
As reported in Crypto Basic, 11,325 Bitcoin that were left idle in two addresses were activated after seven years. Per the report, the funds linked to the Cryptsy exchange hack were sent to 666 addresses upon reactivation.
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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