A dormant Bitcoin address containing 50 BTC recently came back to life after being inactive for more than 14 years.
Popular whale tracking service Whale Alert called attention to the development today in an X post. According to Whale Alert, this Bitcoin address has been dormant since 2010, when the entire 50 BTC portfolio was valued at just $2.
The wallet emerged from dormancy in the early hours of today after initiating two transactions. At the time of the transactions, the value of the 50 BTC had skyrocketed to a whopping $3,387,175 ($3.38 million), representing an ROI of 169,358,650%.
This suggests that the Bitcoin whale acquired 50 BTC in July 2010, when BTC was worth $0.04 per coin. Fast-forward to the time of the latest transaction, the premier asset’s value had surged to $67,743.
Transaction Details
Data from Whale Alert shows that the owner of the dormant 50 BTC made their first transaction in over 14 years today at 05:30 UTC. The user moved the 50 BTC to two separate blockchain addresses containing 47 BTC and 3 BTC, respectively.
The recipient addresses are still holding on to the funds in the hours leading up to press time.
Normal Routine
The reawakening of dormant Bitcoin addresses is becoming a common trend in the crypto market. Several reports of such transactions have circulated within the crypto community, and The Crypto Basic has highlighted some of these incidents.
On October 13, some 1,379 BTC tokens made their first transaction after five to seven years of inactivity. Also, on September 20, several Bitcoin miners’ wallets reawakened after being dormant for 15.5 years. Five of these addresses, which received around 50 BTC per block in 2009, moved 250 BTC worth $15.9 million in one hour.
It is worth mentioning that the reawakening of dormant crypto addresses is not isolated to only Bitcoin. There have also been reports of the revival of dormant blockchain addresses containing other assets like Ethereum.
For instance, an 8.5-year dormant Ethereum address came back to life on September 15 to move some portions of its 16,636 ETH holdings.
Given the recent surge in the reawakening of dormant crypto addresses, this development did not trigger panic among investors. Many believe the portfolio size is too small to seriously impact Bitcoin’s price.
In the meantime, Bitcoin has been up 0.68% over the past 24 hours, and the asset is currently trading at $68,227.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.