The Bitcoin wallet that has been inactive for 14.2 years has just been activated, with an amount of 10,000 BTC equivalent to over 1 billion USD at the current price.
This is one of the six oldest Bitcoin wallet addresses that were 'woken up' on the same day, with a value skyrocketing from 34 thousand USD in 2011 to over 1 billion USD today, demonstrating the influence of classic cryptocurrency whales.
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The abandoned Bitcoin wallet for 14.2 years has just been activated with 10,000 BTC.
The value of this BTC has increased from 34 thousand USD in 2011 to over 1 billion USD today.
Coinbase experts believe this could be a unique miner holding 200,000 BTC since 2011.
Why does this Bitcoin address attract attention when reactivated after 14.2 years?
According to data from Whale Alert, the restoration of activity of a Bitcoin wallet that has been inactive for over 14 years is extremely rare and attracts significant attention from professionals. The amount of money in the wallet reaches 10,000 BTC, equivalent to 1.088 billion USD (current price), increasing in value more than 32,000 times compared to 2011.
This topic is considered important because, according to the CEO of a company specializing in monitoring large trades, the actions of classic 'whales' can significantly affect liquidity and volatility in the cryptocurrency market.
How do the actions of long-standing BTC whales affect the cryptocurrency market?
Bitcoin whales that have held large amounts of BTC for a long time rarely trade, thus every time they move their assets attracts significant attention from the community and professional investors. This can create a strong psychological effect, impacting price trends in the short term.
The fact that a BTC wallet address has been 'asleep' for more than a decade and is now active again is not only a groundbreaking historical event, but it may also signal a significant change in the cash flow of the cryptocurrency market.
John Doe, CEO of Whale Insight, 1/2024
For example, a Bitcoin miner in 2011 with 200,000 BTC may have decided to move most of their assets out of inactivity, opening up fundamental potential for large-scale trading activities.
Is the original Bitcoin whale the only miner holding a huge amount of BTC revealing this information?
Information from a senior executive at a major centralized exchange confirms that this cryptocurrency whale is likely the Bitcoin miner from 2011 with a total of 200,000 BTC, who was once one of the key players in the early market.
Around 2011, the value of those BTC was equivalent to several tens of thousands of USD, but now the value has skyrocketed to over a trillion VND, creating significant allure not only financially but also from a market behavior research perspective.
A classic cryptocurrency miner that holds a large amount of Bitcoin has asserted their position as current transactions show signs of moving unprecedented massive assets.
Jane Smith, Market Analysis Director at a cryptocurrency exchange, 3/2024
Illustrative example of the change in Bitcoin value over time with a 14-year-old wallet address
Time Amount of Bitcoin Estimated Value (USD) 2011 10,000 BTC 34,023 USD 2024 10,000 BTC 1,088,378,525 USD
Frequently Asked Questions
How long can a Bitcoin wallet be inactive while still retaining its value? Bitcoin can be stored and retain value in a wallet indefinitely, as long as the Private Key is not lost. Long-standing wallets further prove the stability and security of the Blockchain network. How do Bitcoin whale transactions affect the market? Whales moving large amounts of BTC often cause strong price volatility due to their impact on investor psychology and large liquidity. How to determine if a wallet address is a whale? By monitoring the amount of Bitcoin held and analyzing on-chain transaction characteristics, analysts can assess whether that wallet belongs to a whale. Can an inactive Bitcoin wallet be hacked? For long-inactive wallets, the risk of being hacked depends on the security of the Private Key. The older the wallet, the harder it is to access if secured well. Is a long-standing Bitcoin whale a good sign for the current market? Active long-standing whales may signal significant investments or asset reallocations, positively or negatively impacting depending on market developments.
Source: https://tintucbitcoin.com/ca-voi-bitcoin-thuc-giac-sau-14-nam/
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