A Bitcoin wallet that was dormant for 14.2 years has just been activated again, containing over 10,000 BTC worth over 1 billion USD today.
This wallet was only worth about 33,994 USD in 2011. This is the eighth case on the day where an old Bitcoin address over 14 years was activated, according to the whale tracking system.
MAIN CONTENT
The Bitcoin wallet containing 10,009 BTC that was inactive for 14.2 years has just been activated.
The value of BTC in the wallet has increased from 33,994 USD in 2011 to over 1 billion USD currently.
Experts believe the owner may be a miner from 2011 who held 200,000 BTC.
Which Bitcoin address has just been activated after 14 years of inactivity?
According to data from Whale Alert published on July 4, a Bitcoin address that had been "dormant" for 14.2 years has just become active again, containing 10,009 BTC currently worth about 1.08 billion USD. This is a rare event, and it is also the eighth long-standing Bitcoin wallet to be awakened on the same day.
"We have never seen so many Bitcoin wallets dormant for decades suddenly activated at the same time as we do now."
Data analysis director, CryptoInsight, July 2024
How has the cryptocurrency value in the wallet fluctuated from 2011 to now?
In 2011, 10,009 BTC was only worth about 33,994 USD. The sudden price surge of Bitcoin from a few dozen USD to over 100,000 USD each has helped the amount in this wallet exceed 1 billion USD as of June 2024.
The prolonged recovery of Bitcoin prices over the years, along with bull markets, has increased the value of such "old" wallets, making the assets in the hands of the owners enormous in today's market.
Who could be the owner of this Bitcoin address?
According to a senior executive who previously worked at a well-known exchange, the person who activated this wallet is likely a 2011 miner who once held about 200,000 BTC. This could be the first individual or organization to mine Bitcoin in its early days, which is significant in the history of cryptocurrency development.
"It is highly likely that this is a primitive Bitcoin whale, the one who laid the foundation for today's Bitcoin ecosystem."
CEO of a leading cryptocurrency exchange, 2024
What does the simultaneous activation of many long-dormant Bitcoin wallets mean?
According to on-chain analysis experts, the simultaneous activity of Bitcoin wallets that have existed for over 14 years signals the potential emergence of large cash flows in the market, which could create significant volatility in Bitcoin trading and prices in the near future.
Criteria Activated Wallet vs Other Old BTC Wallets Inactivity Duration 14.2 years Over 14 years Amount of BTC 10,009 BTC Ranging from 5,000 to 15,000 BTC Current Value ~1.08 billion USD Over 500 million to more than 1 billion USD
Frequently Asked Questions
Why are long-dormant Bitcoin wallets of interest?
Long-dormant wallets often contain large amounts of Bitcoin, and when activated, they can significantly impact supply and demand and prices in the market.How to determine if that wallet belongs to an old miner?
On-chain data and long transaction histories are analyzed by experts to identify miners from Bitcoin's early stages.Does activating this wallet affect Bitcoin prices?
It is likely to create selling pressure or significant volatility, due to the enormous amount of BTC being released into the market simultaneously.How long can a Bitcoin wallet "sleep"?
There is no time limit; some wallets can remain inactive for decades if the owner does not transact.How to track long-standing whale wallets?
On-chain tools and alert systems like Whale Alert provide real-time information.
Source: https://tintucbitcoin.com/ca-voi-bitcoin-10-000-btc-tro-lai/
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