Dormant Bitcoin Wallet Awakens with $51M Transfer Amid Price Surge
A long-dormant Bitcoin wallet has been reactivated after more than 14 years of inactivity, moving 600 BTC worth approximately $51.15 million as the price of Bitcoin surged towards $87,000.
The wallet, which had remained untouched since November 2008, was activated on Tuesday, according to a tweet by blockchain tracker Whale Alert.
The coins were valued at $51,150,182 at the time of the transaction. However, it is unclear whether the holder is preparing to sell, as there is currently no indication that the coins were transferred to a cryptocurrency exchange.
Movements involving wallets that have remained inactive for more than a decade often attract attention because they involve coins acquired during Bitcoin's early years, when the asset traded at a fraction of its current value.