Crypto
Dormant Bitcoin Wallet Awakens with Staggering 2.5M% Gain
A Bitcoin wallet that had been dormant since 2011 has come back to life, transferring 100 BTC on September 19. The coins were worth roughly $8.1 million at the time of transfer, and their value is a staggering 2,486,052% gain from their original cost basis.
The wallet received the 100 BTC on November 2, 2011, when Bitcoin was trading around $3 per coin. With the current price of approximately $81,000, the same amount of coins would be worth about $8.1 million, according to Galaxy Research.
Galaxy Research highlighted the transaction and linked the sending address to Noah Doe #3113. However, it's essential to note that an on-chain transfer alone does not confirm a realized profit from selling the coins.