Categories: News

Dormant Bitcoin Wallet Awakens After 10.7 Years, Holding 108 BTC!

Key Points:

A dormant Bitcoin wallet holding 108 BTC (worth $6.06 million) was just activated after 10.7 years.
In 2014, the 108 BTC was worth $87,000, now skyrocketing to over $6 million!

Whale Alert, a blockchain analytics service provider, reports the re-emergence of a 10.7-year-old dormant Bitcoin wallet address.

Bitcoin Wallet Awakens After 10.7 Years

This wallet contains 108 BTC, which is currently valued at roughly $6.06 million. This is far from Bitcoin‘s initial value in 2014, which was approximately $87,000. The sudden re-awakening of dormant Bitcoin wallets always sparks speculation in crypto. Since Bitcoin’s value dramatically increased within the past decade, questions would always arise concerning the owner’s intent, whether to sell, hold, or move the money into another wallet.

From $87K to $6 Million Value

Such movements are closely watched by the Bitcoin community, for they may mean strong market action. Whale Alert, a popular tracker of large crypto transactions, termed this move suspicious since the wallet in question was long dormant. The reawakening of any address, but most of all, such a large amount of Bitcoin, can impact market sentiment.

In 2014, the price of Bitcoin was $800 per BTC. Fast-forward to 2024, and with Bitcoin trading at 56,000 USD per BTC, this wallet contains 108 BTC valued at roughly 6.06 million.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.