2024

Bitcoin

when

Old Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
According to data shared by the popular blockchain tracking service Whale Alert, less than two hours ago, a dormant Bitcoin <a href="https://u.today/dormant-ethereum-whale-awakens-with-millions-in-eth-after-9-years" rel="noopener noreferrer nofollow">address was reactivated</a> after almost a dozen years of inactivity.
This whale has seen his BTC stash skyrocket tremendously from merely $14,202 worth of it over all those years.
<h2 id="ancient-bitcoin-wallet-awakens">Ancient Bitcoin wallet awakens</h2>
The above-mentioned dormant wallet contains 100 BTC. This amount of the world’s largest pioneer cryptocurrency is currently valued at $5,964,455, while back in 2013, when this wallet was last used, it was worth only $14,202, according to the tweet.
This difference in the fiat value of this Bitcoin lump signifies a massive 41,897% rise.
<blockquote>
 💤 A dormant address containing 100 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (5,964,455 USD) has just been activated after 11.4 years (worth 14,202 USD in 2013)!<a href="https://t.co/r5GvC0ktdi" rel="noopener noreferrer nofollow">https://t.co/r5GvC0ktdi</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1829062535380701474?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 29, 2024</a>
</blockquote>
Crypto community members in the comments speculated as to the reason of the <a href="https://u.today/dormant-bitcoin-wallet-skyrockets-11754-after-years-of-inactivity" rel="noopener noreferrer nofollow">wallet’s awakening</a> at this very moment, concluding that this whale is a “diamond holder” and that they are likely to sell the dormant Bitcoin now to make some healthy profits.
<h2 id="855-million-in-bitcoin-bought-on-coinbase-by-new-whales">$855 million in Bitcoin bought on Coinbase by new whales</h2>
As covered by U.Today, over the past month, around a dozen dormant Bitcoin wallet awakenings were reported by Whale Alert. As a rule, these are indeed tight Bitcoin holders or, frequently, these whales simply lose their private keys and are suddenly able to recover them only 10-13 years later.
There have been some more massive BTC transfers reported by Whale Alert today – they were two transfers made from the largest U.S.-based cryptocurrency exchange Coinbase to unknown new wallets. Those two transfers were cumulatively worth almost $900 million. Each transaction carried 7,999 BTC, with a slight difference in the fiat equivalent - $472,800,932 and $472,800,936.
<blockquote>
 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 7,999 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (472,800,932 USD) transferred from <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> to unknown new wallet<a href="https://t.co/vHIW47bcaS" rel="noopener noreferrer nofollow">https://t.co/vHIW47bcaS</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1828952792037285916?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 29, 2024</a>
</blockquote>
Since both anonymous wallets are brand new, the market is likely witnessing the birth of two new Bitcoin whales.
On Wednesday, Bitcoin experienced a staggering decline of 5.57%, falling from $62,000 to $58,650. That was followed by a rise of 2.64%, but then BTC again went down and is currently trading at $59,652.

Ancient Bitcoin Whale Pushed to Life with 41,897% Profit Increase

Table of Contents

U_Today

Other articles published on Aug 29, 2024

French Football Star Kylian Mbappe’s X Account Hacked to Promote Meme Coin

OpenSea Faces SEC Threat to NFTs

Analyst Predicts Bitcoin Downtrend Until Late 2024, Reminds of Unrealized $100K Predictions from ...

BlockDAG’s Viral Video Spurs Presale to $68.5M: Price Analysis of ETH and TON

Bitcoin Price Analysis: Will Japan’s Stock Market Crash Trigger a Crypto Bull Rally?

Ethereum ETFs Break Nine-Day Outflow Trend with $5.8M Inflow

Join our free newsletter for daily crypto updates!