Dormant Bitcoin Wallet Awakens After 12 Years with Potential $1.7M Gain

A long-dormant Bitcoin wallet has awoken after 12 years of inactivity. The wallet, labeled as '14vMEC', received its first Bitcoins on January 31, 2014, when the price was well under $1,000.

It held onto these coins for over a decade before moving them to a new address on August 10. According to Galaxy Research, this move could potentially realize a gain of about $1.73 million, a staggering 7,975% return on an average basis near $803 per coin.

This is not an isolated event; another dormant wallet recently moved its funds after 14 years of inactivity. This trend has been observed over the past two years, with several wallets stirring from their long-term slumber.

While it's impossible to confirm whether these coins have entered the market, a sweep to a fresh address often precedes consolidation or staged moves toward a venue where they could be sold or posted as collateral.