Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Dormant Bitcoin Wallet Reawakens After 11 Years With Unrealized ROI of Over 42,000%

Dormant Bitcoin Wallet Reawakens After 11 Years With Unrealized ROI of Over 42,000%

CryptopotatoCryptopotato2024/08/28 16:00
By:Author: Wayne Jones

If the owner of the wallet sold his BTC today, it would turn a $14,000 investment into a $6 million windfall.

A long-dormant Bitcoin (BTC) address has been reactivated after more than 11 years of inactivity. The wallet, which holds 100 BTC, was brought back to life on August 29, according to blockchain tracking service Whale Alert.

Worth a mere $14,202 when the address was last used in 2013, the crypto stash has jumped by more than 41,000%, and now stands at approximately $6.02 million going by the largest cryptocurrency’s current price.

Crypto Community Reacts

There were some interesting reactions from the crypto community following the revelation, with some simply in awe of the owner’s patience.

“Imagine holding 100 BTC for over a decade and seeing it go from $14k to nearly $6 million. That’s the true definition of diamond hands,” one X user commented.

Another speculated, “Is he devastated because it had reached $73k?” This was in reference to the fact Bitcoin hit an all-time high price of $73,798 earlier in the year. That price would have given the nest egg a value of more than $7.3 million had the owner unlocked it then.

A History of Reactivations

Interestingly, it is not the first time in recent weeks that a mystery owner has brought back to life a dormant Bitcoin address. On August 7, another wallet stirred to life, transferring 250 BTC worth nearly $14 million. 

That address was linked to an unnamed miner, with the original value of the stash thought to have been around $250, since it was last active in May 2010.

On August 17, another one containing 18 BTC was reactivated after gathering cobwebs for 10.3 years. At the time of restoration, the funds in that particular address would have gone for about $1.091 million, a significant jump from its $9,204 position in 2014.

A report by blockchain data platform Chainalysis from March 2024 estimated that there are more than 1.7 million BTC addresses that have remained inactive for more than ten years. That period from when they were last active is popularly known as the Satoshi era, in honor of the mysterious creator of Bitcoin. 

Addresses from that time are often associated with early miners of the cryptocurrency, or those that bought the coin when it was dirt cheap. Usually, their owners come back to great profits, with the price of the cryptocurrency having gone up hugely in the intervening period.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Experts Anticipate a Surge for SUI Cryptocurrency Based on Positive Indicators

In Brief SUI cryptocurrency shows optimism through positive technical indicators. Experts believe SUI is poised for a potential upward movement. Institutional predictions suggest significant price levels could be reached for SUI.

Cointurk2025/04/22 23:33
Experts Anticipate a Surge for SUI Cryptocurrency Based on Positive Indicators

Massive OM Token Burn Sparks Investor Debate and Market Tension

In Brief Mullin announced a significant burn of 300 million OM tokens to reduce supply. Investor confidence is shaken as whale movements raise concerns about potential sell-offs. Market sentiment remains crucial as analysts call for additional measures for recovery.

Cointurk2025/04/22 23:33
Massive OM Token Burn Sparks Investor Debate and Market Tension