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- On 7th March, Whale art, a blockchain tracker and analytics system, disclosed that a Bitcoin wallet containing 407 BTC, approximately $15.5 million, has come to life since 2013.
- There is speculation that after the owner of the wallet successfully unlocked it, it might have just come out of dormancy. The leading cryptocurrency was trading at $38,304.40 at the time of writing.
- These incidents are not rare nor happen just with Bitcoin wallets. Recently an Ethereum wallet containing $5 million worth of ETH got activated.
In a tweet published on 7th March, Whale Alert revealed that a Bitcoin wallet containing 407 BTC, approximately $15.5 million at the time of writing, has been activated for the first time since 2013.
The Wallet Owner Gained A Profit Of Whopping 4,266%
Initially, the exact worth of the coin was $355,254, meaning the value of the currency has increased by a whopping 4,266%.
At the time of writing, the world’s leading cryptocurrency by marketcap in the market was trading at $38,304.40, down 0.07% in the last 24 hours.
One speculation is that the wallet might just come out of dormancy after its owner successfully unlocked it. It is not always fair to assume that a person could have such a high level of conviction.
The recent incident is not the first of its kind; several similar Bitcoin wallets have suddenly activated after years of inactivity. At the same time, it is always shocking when such incidents happen; however, an address that dates back to 2011, the same year the flagship currency was founded, attracts the attention of crypto enthusiasts. Since the addresses could probably have some connection with the mysterious Bitcoin founder, Satoshi Nakamoto.
Such incidents are also not synonymous with Bitcoin only; a dormant Ethereum wallet with over $5 million worth of ETH was activated in late February.
The second leading cryptocurrency started with an original investment of only $2,336, the owner of the above-mentioned address would have made a massive profit of 220,799%.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
