Ancient Wallets Awaken: $120 Turns to $3 Million as Bitcoin's Oldest Coins Stir
A surge in reactivated wallets continues to sweep through the Bitcoin network, with at least four long-dormant stashes coming back to life in the past few days. According to Galaxy Research, these revived wallets have collectively moved 202.84 BTC, worth around $15.73 million, between August 29 and September 4.
The largest of these wallets had been inactive since November 2013 and held 146.06 BTC, valued at approximately $11.31 million. With an average cost basis near $595, this wallet realized a gain of about 12,902%.
A wallet with 40 BTC dormant since November 2011 now boasts a value of around $3.09 million, representing a staggering increase of 2,571,899% from its original purchase price of about $3.
This means that the patient holder managed to turn almost $120 worth of Bitcoin into more than $3 million by simply holding onto it for nearly 15 years.