Ancient Bitcoin (BTC) Wallet Comes Back to Life After 11.8 Years of Dormancy, Profit Now Stands at 524,701%
- 王林Original
- 2024-07-27 21:32:09811browse
Popular blockchain tracker Whale Alert has revealed that over the last 24 hours, a dormant cryptocurrency whale reactivated his Bitcoin wallet. The profit he has made on BTC by now are astounding.
A cryptocurrency whale has reactivated his dormant Bitcoin (BTC) wallet after 11.8 years, revealing a mind-boggling profit on his BTC holdings.
According to blockchain tracker Whale Alert, the last time the whale “touched” his crypto was in 2012, still the early years of Bitcoin and only two years after the enigmatic Satoshi Nakamoto opted to go under the radar.
Now, the wallet, which contains 37 BTC, has been reactivated. Back at the time, that Bitcoin was worth only $476, whereas now, in July 2024, this crypto is valued at $2,498,054. This constitutes an insane 524,701% profit growth.
A dormant address containing 37 #BTC (2,498,054 USD) has just been activated after 11.8 years (worth 476 USD in 2012)!
Earlier this week, Whale Alert also reported on several other dormant wallets that were unsealed, each containing millions of dollars’ worth of Bitcoin.
In many cases, these sudden awakenings happen because the owners are only now able to locate their private keys. Many users have lost their early mined or bought Bitcoin forever, with some very loud cases covered by the media.
However, another category of users have just been patiently waiting, watching as the world’s flagship cryptocurrency has gradually risen in price over the past 10 to 12 years before deciding to cash out their huge profits.
This year, Bitcoin reached a new all-time high when it hit $73,750 on March 14. That historic price surge was largely caused by two main factors.
The first was the enormous Bitcoin buying spree started by spot BTC ETFs in January, when those 11 ETFs bought roughly 10,000 BTC per week. The second was the anticipation of the fourth Bitcoin halving by the global community. The event took place on April 20 and slashed Bitcoin block rewards earned by miners from 6.25 to 3.125 BTC.
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