Dormant Bitcoin Wallet Awakens, Moves 600 BTC Amid $87,000 Price Surge

A 14-year-old dormant Bitcoin wallet has awakened, moving 600 BTC worth approximately $51.15 million as the price of Bitcoin surged towards $87,000, according to a tweet by blockchain tracker Whale Alert.

The wallet, which had remained untouched for 14.2 years, moved the coins at a time when Bitcoin was posting a strong recovery, with the price rising to as high as $87,341 late Monday for the first time since January.

It's worth noting that the movement of the 600 BTC does not necessarily mean the holder is preparing to sell, as there is currently no indication that the coins were transferred to a cryptocurrency exchange.

The latest transaction comes just days after another long-dormant Bitcoin wallet was activated, and amid renewed buying activity across the Bitcoin market.