In a tweet published on 7th March, Whale Alert revealed that a Bitcoin wallet containing 407 $BTC, approximately $15.5 million at the time of writing, has been activated for the first time since 2013.
💤 A dormant address containing 407 #$BTC (15,460,523 USD) has just been activated after 8.3 years (worth 355,254 USD in 2013)!https://t.co/QxXaQHvmLI
— Whale Alert (@whale_alert) March 7, 2022
The Wallet Owner Gained A Profit Of Whopping 4,266%
Initially, the exact worth of the coin was $355,254, meaning the value of the currency has increased by a whopping 4,266%.
At the time of writing, the world’s leading cryptocurrency by marketcap in the market was trading at $38,304.40, down 0.07% in the last 24 hours.
One speculation is that the wallet might just come out of dormancy after its owner successfully unlocked it. It is not always fair to assume that a person could have such a high level of conviction.
The recent incident is not the first of its kind; several similar Bitcoin wallets have suddenly activated after years of inactivity. At the same time, it is always shocking when such incidents happen; however, an address that dates back to 2011, the same year the flagship currency was founded, attracts the attention of crypto enthusiasts. Since the addresses could probably have some connection with the mysterious Bitcoin founder, Satoshi Nakamoto.
Such incidents are also not synonymous with Bitcoin only; a dormant Ethereum wallet with over $5 million worth of $ETH was activated in late February.
The second leading cryptocurrency started with an original investment of only $2,336, the owner of the above-mentioned address would have made a massive profit of 220,799%.
thecoinrepublic.com
