A dormant Bitcoin wallet holding 6,071 BTC has suddenly been activated after 9-year hiatus
Given how uncommon it is to see such sizable Bitcoin wallets from the Satoshi era come back to life, activating this inactive address has caused a lot of discussion in the cryptocurrency industry.
Satoshi-Era Bitcoin Mystery: Massive BTC Whale Address Activated
After being inactive for 9.3 years, a dormant Bitcoin wallet holding 6,071 BTC worth $178 million has suddenly been reactivated. Only $3.3 million worth of Bitcoins were previously stored in the Satoshi-era wallet in 2013.
— Whale Alert (@whale_alert) April 19, 2023
The wallet’s unexpected activation has fascinated the Bitcoin world, and many people are making assumptions about who owns the wallet and why it was suddenly activated. According to the wallet’s transaction history, the first transaction happened on December 19, 2013, and the most recently happened on April 19. 2,071 BTC out of the entire 6,071 BTC were shifted.
As the funds did not end up in any known exchange wallets, Ki Young Ju, a well-known cryptocurrency analyst and the man behind the CryptoQuant that the transfer was probably an over-the-counter (OTC) trade. $173 million is a stunning gain for the unidentified wallet possessor from the significant price change during the intervening years.
— Ki Young Ju (@ki_young_ju) April 19, 2023
Data from CoinGecko show that the price of one bitcoin is currently $29,269.23, suggesting a considerable increase in value since the wallet’s launch. Market participants will closely monitor the wider cryptocurrency market and any further activity from this whale address.
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