Dormant Wallet Awakens as Bitcoin Surges Past $87k

A long-dormant Bitcoin wallet containing 600 BTC has been activated after more than 14 years of inactivity. According to blockchain tracker Whale Alert, the wallet was moved on Tuesday, with the coins valued at $51.15 million at the time of the transaction.

The movement comes as Bitcoin price surged towards $87,000, reaching a high of $87,341 late Monday for the first time since January.

However, it's unclear whether the holder is preparing to sell, as there is currently no indication that the coins were transferred to a cryptocurrency exchange. The wallet could have simply been moved to another wallet controlled by the same holder.