Ancient Bitcoin Wallets Stir to Life, Unlocking Millions
A parade of long-dormant Bitcoin wallets has been stirring to life in recent days, with at least four ancient stashes reactivating and moving funds. According to blockchain monitoring by Galaxy Research, these revived wallets together moved 202.84 BTC, worth about $15.73 million, between August 29 and September 4.
The largest among them held 146.06 BTC, worth roughly $11.31 million, and had been inactive since November 2013, nearly 12.8 years. The wallet realized a gain of about 12,902% from its average cost basis near $595.
A smaller wallet with 40 BTC dormant since November 2011 now valued at about $3.09 million saw an astronomical increase of 2,571,899% from its average cost of about $3. This means the patient holder managed to turn almost $120 of Bitcoin into more than $3 million just by holding for nearly 15 years.