u.today
Popular blockchain sleuth Whale Alert, which tracks down large cryptocurrency transactions and old wallets reemerging on the blockchain, has published the details of an ancient wallet that was last used almost 14 years ago – when mysterious Bitcoin creator Satoshi Nakamoto was still an active participant of the BitcoinTalk forum.
The Bitcoin contents of the awakened wallet are now worth millions if U.S. dollars after a parabolic increase over all these past years.
394,933% profit gained by ancient Bitcoin whale
The wallet contained 150 Bitcoins that had been dormant for 13.3 years, according to Whale Alert. While back in 2011, this amount of BTC was valued at only $2,540, today, when the wallet was reactivated, these 150 BTC were worth a whopping $10,033,846. That constituted a mammoth 394,933% increase on profits.
💤 💤 A dormant address containing 150 #BTC (10,033,846 USD) has just been activated after 13.3 years (worth 2,540 USD in 2011)!https://t.co/bifDt9YRGD
— Whale Alert (@whale_alert) October 24, 2024
Previously, U.Today covered that an ancient miner moved roughly $10 million worth of Bitcoin to the Kraken exchange. In 2009, when this miner last got their coins, it was possible to mine up to 3,000 BTC per day due to the low mining difficulty. In 2012, the first halving took place when a miner’s reward per block was cut down to 50 BTC.
Bitcoin might be used as currency in six years: CryptoQuant founder
Founder and chief executive officer of CryptoQuant on-chain data agency Ki Young Ju addressed his X followers to share with them that he expects the role of P2P electronic cash, which Satoshi Nakamoto meant for Bitcoin, to be realized by 2030.
In order for this to happen, he said, BTC needs to start being used as a currency in everyday transactions. Satoshi did not intend for Bitcoin to be “digital gold,” he reminded to the crypto community.
The reasons why he expects Bitcoin to turn into an actual currency include increasing Bitcoin mining difficulty, greater involvement of financial institutions with BTC, increase of stablecoin adoption and the approaching reduction of BTC volatility.
Ju believes the important date for Bitcoin’s prospects as a currency to be April 2028, when the next halving takes place. Many OG Bitcoiners expect that by 2030, BTC is likely to reach the much-anticipated $1 million price level. Among these influencers are JAN3 boss Samson Mow and Max Keiser – the Bitcoin advisor to El Salvador President Nayib Bukele.