U.Today – Prominent blockchain tracking site Whale Alert reported that a dormant BTC wallet became energetic again just over two hours ago after being dormant since 2013.
The wallet does not contain a lot of BTC, but there is enough in it to make its owner a millionaire, thanks to the huge profits made over the past 11 years.
Satoshi-era Bitcoin wallet reactivation
The aforementioned data source stated that this anonymous wallet was reactivated after almost a dozen years of dormancy. It contains 26 Bitcoins worth $1,663,917 at the current exchange rate.
In 2013, this amount of BTC was valued at just $2,598. The difference between these two values represents a staggering 63,946.1% boost in Bitcoin’s value.
As reported by U.Today, earlier this week several other sleeping Bitcoin whales managed to launch their funds after 10 or more years of dormancy – a time when the shadow of Bitcoin’s mysterious creator Satoshi Nakamoto still loomed huge and some in the BTC community remembered chatting with him on the BitcoinTalk forum.
Quite often, dormant Bitcoin wallets become energetic again after a decade, since their owners managed to recover the lost private keys to their BTC stored in cool storage. However, when these wallets are reactivated, whales start selling their Bitcoins in part or in full.
The number of Bitcoin owners is falling rapidly
Earlier this week, popular blockchain data aggregator Santiment noticed a drastic drop in the overall number of wallets holding at least one BTC.
“Bitcoin holders are declining aggressively,” Santiment said in his tweet, citing a key reason why — traders believe the price of the world’s flagship cryptocurrency is unlikely to rise above the all-time high reached by Bitcoin in March of this year, when BTC surged to $73,750. The total number of Bitcoin holders (those with more than zero BTC) fell by 672,510 compared to June.
Santiment noted, however, that such mass Bitcoin liquidations only boost the likelihood of BTC continuing to rise in value.
At the time of writing, Bitcoin is changing hands at $64,033. Since this Wednesday, Bitcoin has fallen by almost 2.8% in total.
