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According to the popular blockchain tracker Whale Alert, which monitors large cryptocurrency transfers, an ancient Bitcoin whale came back to life from almost 11 years in hibernation.
Dormant Bitcoin whale earns staggering profit
Whale Alert reported that a wallet, which had remained 10.8 years in dormancy (since 2013), has been ignited back to life. It contains a mammoth $8,094,469 worth of Bitcoin. The BTC amount concluded inside the wallet equals 146 coins, and back in 2013, they were valued at $80,257.
Since then, the value of that Bitcoin has soared by 9,985%.
💤 A dormant address containing 146 #BTC (8,094,469 USD) has just been activated after 10.8 years (worth 80,257 USD in 2013)!https://t.co/vTvNxOD00t
— Whale Alert (@whale_alert) September 9, 2024
The year 2013 was pretty volatile for the Bitcoin price. At the very start of the year, BTC changed hands at merely $13. By April, it suddenly surged to $266 before it collapsed to $50 per coin. In November, the increase was even more amazing than in the spring. Driven by the hype caused by the media attention, widely expanding adoption and speculation, the largest cryptocurrency skyrocketed as high as $1,000 per unit.
At the time of this writing, Bitcoin is changing hands at $55,242.