2024

Chair

Bitcoin

Gains

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
According to on-chain data, a long-<a href="https://u.today/dormant-bitcoin-wallet-awakens-with-8844-gains-details" rel="noopener noreferrer nofollow">dormant Bitcoin wallet</a> has been reactivated after 11.4 years. Crypto data tracker Whale Alert <a href="https://x.com/whale_alert/status/1826626885993808148" rel="noopener noreferrer nofollow">stated</a>, "A dormant address containing 54 BTC ($3,274,741) has just been activated after 11.4 years (worth $10,174 in 2013)."
Back in 2013, these Bitcoins were worth around $10,174. Today, their value has skyrocketed to an astounding $3,274,741, marking a massive 32,087% gain.
<blockquote>
 💤 A dormant address containing 54 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (3,274,741 USD) has just been activated after 11.4 years (worth 10,174 USD in 2013)!<a href="https://t.co/Ks2Mo7LCYJ" rel="noopener noreferrer nofollow">https://t.co/Ks2Mo7LCYJ</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1826626885993808148?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 22, 2024</a>
</blockquote>
The sudden reactivation of this wallet has ignited curiosity and speculation. Why did the owner choose to revive it now, after more than a decade of inactivity? The timing and reasons behind the sudden activation remain unknown, adding to the already intriguing story.
Dormant Bitcoin wallets are often believed to be owned by early Bitcoin adopters or miners.
However, the identity of the wallet owner remains unknown, but the sudden activation has led to various speculations. It could be an early adopter who decided to cash in on the massive gains; it might also be a forgotten wallet that was recently rediscovered, or perhaps the owner decided to transfer the funds to a more secure wallet.
<h2 id="bitcoin-regains-61-000">Bitcoin regains $61,000</h2>
At the time of writing, BTC was up 0.35% in the last 24 hours to $61,048 after reaching intraday highs of $61,435. In recent days, bulls and bears have launched a fierce battle for the <a href="https://u.today/bitcoin-q4-rally-on-horizon-btc-price-may-rip-higher-if-past-trend-holds" rel="noopener noreferrer nofollow">Bitcoin price </a>to push BTC beyond the daily SMA 50 at $61,436.
The crypto market is trading higher in the last 24 hours as investors await Fed Chair Jerome Powell's crucial comments.
Powell is set to deliver a highly anticipated speech in Jackson Hole today, Friday, with market players expecting new details on the U.S. central bank's interest rate cut plans.
Earlier this week, the minutes from the Federal Reserve's July meeting revealed that the "vast majority" of central bank officials "observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting."

Ancient Bitcoin Wallet Awakens After 11 Years With Massive 32,087% BTC Gains

Table of Contents

U_Today

Other articles published on Aug 23, 2024

Trump’s ‘DeFiant Ones’: A Political Play, Not True DeFi?

Former TON Foundation Leaders Introduce $40M Fund TON Blockchain Growth

Ethereum Shows Strong Stability Above Key Levels

Bitcoin Surges as Fed Chair Promises Rate Cuts in September

Impressive Surge in $WHY! Dominates the Meme Innovative Leaderboard on Binance!

Bitcoin’s $62K Battle: Will Bulls Push Through or Bears Take Over?

Join our free newsletter for daily crypto updates!