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.