Ancient Bitcoin Whale Pushed to Life with 41,897% Profit Increase

U.Today - According to data shared by the popular blockchain tracking service Whale Alert, less than two hours ago, a dormant Bitcoin address was reactivated after almost a dozen years of inactivity.

This whale has seen his BTC stash skyrocket tremendously from merely $14,202 worth of it over all those years.

Ancient Bitcoin wallet awakensThe above-mentioned dormant wallet contains 100 BTC. This amount of the world’s largest pioneer cryptocurrency is currently valued at $5,964,455, while back in 2013, when this wallet was last used, it was worth only $14,202, according to the tweet.

This difference in the fiat value of this Bitcoin lump signifies a massive 41,897% rise.

Crypto community members in the comments speculated as to the reason of the wallet’s awakening at this very moment, concluding that this whale is a “diamond holder” and that they are likely to sell the dormant Bitcoin now to make some healthy profits.

$855 million in Bitcoin bought on Coinbase (NASDAQ:COIN ) by new whalesAs covered by U.Today, over the past month, around a dozen dormant Bitcoin wallet awakenings were reported by Whale Alert. As a rule, these are indeed tight Bitcoin holders or, frequently, these whales simply lose their private keys and are suddenly able to recover them only 10-13 years later.

There have been some more massive BTC transfers reported by Whale Alert today – they were two transfers made from the largest U.S.-based cryptocurrency exchange Coinbase to unknown new wallets. Those two transfers were cumulatively worth almost $900 million. Each transaction carried 7,999 BTC, with a slight difference in the fiat equivalent - $472,800,932 and $472,800,936.

Since both anonymous wallets are brand new, the market is likely witnessing the birth of two new Bitcoin whales.

On Wednesday, Bitcoin experienced a staggering decline of 5.57%, falling from $62,000 to $58,650. That was followed by a rise of 2.64%, but then BTC again went down and is currently trading at $59,652.

Source: Investing.com