The post Dormant Bitcoin Wallet from 2012 Now Worth $53 Million appeared on BitcoinEthereumNews.com.

A Bitcoin wallet, untouched since 2012, has suddenly come back to life—and it’s now worth a massive $53 million! This wallet, holding around 749 Bitcoin, was once valued at just $8,000. Now, it’s making waves in the crypto world as people wonder who unlocked it after nearly 12 years. In this article, we’ll dive into the story behind this long-dormant wallet, how it gained so much value, and what it means for the world of Bitcoin. Bitcoin Wallet Goes from $8,000 to $53 Million After Being Dormant Since 2012   A Bitcoin wallet that had been inactive for nearly 12 years, containing 749 BTC (valued at $53.2 million today), recently made its first transaction, as shown by on-chain data. According to blockchain tracker Mempool, the wallet transferred approximately 159.2 BTC (about $11.3 million) at 7:28 a.m. UTC. Previously, this address last moved funds on November 10, 2012, sending 10 BTC, which was worth just around $110 at that time. Whale Alert, an on-chain monitoring platform, shared this update on X. While the reason for this recent transaction and the owner’s identity remain unknown, Blockchair, a blockchain analytics tool, tagged 124.2 BTC (worth $8.8 million) from the transaction as “change.” This suggests it was likely routed back to the sender in a new address linked to their wallet. The other 35 BTC ($2.4 million) was sent to a different address, possibly unrelated to the original owner. Reactivation of Dormant Bitcoin Wallets: A Signal of Market Shifts and Investor Strategy? The reactivation of this Bitcoin wallet, dormant since 2012, points to a few intriguing possibilities and impacts on the broader cryptocurrency ecosystem. Such an event can signal renewed interest from long-term holders, sometimes called “whales,” who may choose to unlock older Bitcoin holdings due to recent market trends, regulatory changes, or personal…

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Filed under: News - @ October 29, 2024 2:27 pm