Bitcoin Contained in Just Activated Satoshi-Era Wallet Soars 4,500x by Now

Bitcoin Contained in Just Activated Satoshi-Era Wallet Soars 4,500x by Now

Another Bitcoin wallet last used during the period of Bitcoin’s early days has been activated this year.

Data shared by the Whale Alert crypto tracking service has it that in the past twenty-four hours, one more crypto wallet with Bitcoins bought and/or mined nine years ago has awakened after a long period of inactivity.

💤💤 A dormant address containing 616 #BTC (29,470,042 USD) has just been activated after 8.8 years (worth 6,667 USD in 2012)!— Whale Alert (@whale_alert) September 19, 2021

Yet another dormant BTC address activated this year

The 1BamMXZBPLMwBT3UdyAAKy3ctGDbXNKoXk wallet contains 616 Bitcoins worth $29,470,042. Back in 2012 this amount of BTC was an equivalent of only $6,667, rising 4,499 times by now.

This is not the first time a dormant BTC wallet has been activated this year. Previously, U.Today reported that such “sleeping” wallets were activated in July, March and February. They held 791 BTC ($26,147,621), 5,000 BTC ($280,814,423) and 2,289.53 BTC (worth approximately $110 million) respectively.

A Twitter user in the comments under the Whale Alert post, opined that the fact of such a wallet being activated could be considered as not a good sign, since owners of these wallets most likely plan to sell their stash now and then buy more Bitcoin cheaper. He added that these holders are likely to be in touch with other major whales, so a sell-off may be on the horizon.

Bitcoin collapses below $45,000

After reaching a peak of $48,700 on Saturday, September 18, the flagship cryptocurrency has plummeted to the $44,436 zone, losing almost 9 percent of its market value ($4,248).

Two massive red candles were printed by Bitcoin earlier today, taking from $47,225 to $44,436. By now, however, the leading crypto has shown a slight recovery, recapturing the $44,965 level.