A dormant bitcoin wallet holding BTC worth millions of dollars has suddenly become active after 8 years. This life-changing amount of money has the potential to shake up the crypto market.
The wallet with 321 BTC was reactivated on Tuesday. There was no transaction activity from the account since 2013. The reason for dormancy is unknown. Moreover, there are no ownership claims for the account. It currently has 15 million dollars worth of bitcoin.
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The wallet in question went dormant a few years after the creator of BTC, Satoshi Nakamoto, disappeared. Is there a connection between these two events? Not sure. Nevertheless, the crypto community is coming up with its own speculations regarding the re-activation of dormant wallet.
Bitcoin price has increased many folds over the past 8 years. The price of a single BTC is closed to $50K at the moment whereas it reached the all-time high of $67k. The worth of 321 BTC was $6,594 in 2013. Today, on the other hand, this holding is worth $15, 103, 046.
💤 A dormant address containing 321 #BTC (15,103,046 USD) has just been activated after 8.8 years (worth 6,594 USD in 2013)!https://t.co/JCZ1I3yO6Y
— Whale Alert (@whale_alert) December 21, 2021
Many dormant BTC wallet addresses have been reactivated in the recent price rally of Bitcoin. Individuals who staked bitcoin in the early days (2011-2013) have now their holdings worth millions of dollars. Anyone with just a few hundred BTC at that time is now a whale.
On September 19th another dormant Bitcoin wallet was activated with whale transferring 116 Bitcoin to its different accounts on September 12th.