The $60 million dormant Bitcoin wallet emerges after almost 12 years of dreaming

Just as Bitcoin recovered the $63,000 level earlier this week, Whale Alert has identified the activation of an inactive address containing 1,000 BTC, worth approximately $60 million, on 15 July, after more than a decade of inactivity.

This wallet originally received storage about 11 years and 9 months ago on September 25, 2012, valued at just $11,908.

According to data compiled by Blockchain.com, the first outgoing transaction from this wallet was issued on January 19, 2024. The value of the wallet has increased by approximately 500,000% during its long period of inactivity.

The latest transaction saw the 1,000 BTC transferred to a new address, although the reasons for this move and the identity of the wallet owner are unknown.

The latest activity comes as BTC trades just above $63,000 after rising more than 5% in the past 24 hours. The bullish revival pushed its weekly gains above 12%.

Over the past few weeks, several Bitcoin wallets that were inactive for years have been seen to re-emerge, moving millions of funds. On July 4, for example, an inactive address with 119 BTC worth nearly $7 million moved funds for the first time in over 12 years.

An early Bitcoin miner, who had been inactive for 14 years, transferred his entire 50 BTC deposit worth approximately $3.05 million to Binance last month.

Another Bitcoin wallet transferred more than 8,000 BTC, worth more than $536 million, from Coinbase’s cold storage after more than five and a half years of inactivity.

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