A dormant Bitcoin address containing 50 BTC was recently revived after being inactive for over 14 years.
Popular whale tracking service Whale Alert called attention to this development in today’s X post. According to Whale Alert, this Bitcoin address has been dormant since 2010, when the entire 50 BTC portfolio was worth just $2.
This wallet came back from hibernation early today after initiating two transactions. At the time of the transaction, the value of 50 BTC had skyrocketed to a whopping $3,387,175 ($3.38 million), which corresponds to an ROI of 169,358,650%.
This suggests that Bitcoin whales acquired 50 BTC in July 2010, when BTC was worth $0.04 per coin. Going back to the most recent transaction, the value of Premier Assets had soared to $67,743.
Transaction details
Whale Alert data shows that holders of 50 dormant BTC made their first trade in over 14 years today at 05:30 UTC. The user moved 50 BTC to two separate blockchain addresses containing 47 BTC and 3 BTC respectively.
https://x.com/thecryptabasic
The recipient address still held the funds for several hours until this article was published.
normal routine
The resurgence of dormant Bitcoin addresses is becoming a common trend in the cryptocurrency market. Several reports of such transactions have been circulating within the cryptocurrency community, and The Crypto Basic covers some of these incidents.
On October 13th, approximately 1,379 BTC tokens made their first trade after 5-7 years of inactivity. Also, on September 20th, multiple Bitcoin miner wallets were revived after being dormant for 15 and a half years. Five of these addresses received approximately 50 BTC per block in 2009 and moved 250 BTC per hour, worth $15.9 million.
It is worth mentioning that the reawakening of dormant crypto addresses is not limited to Bitcoin only. There are also reports of dormant blockchain addresses being revived, including other assets such as Ethereum.
For example, an Ethereum address that had been dormant for eight and a half years was reactivated on September 15th and transferred some of its 16,636 ETH.
This development did not cause panic among investors, given the recent surge in the reawakening of dormant crypto addresses. Many believe that the size of their portfolio is too small to have a serious impact on the price of Bitcoin.
Meanwhile, Bitcoin is up 0.68% over the past 24 hours, with the asset currently trading at $68,227.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
