Ancient Bitcoin Wallets Come Back To Life After More Than 11 Years Of Dormancy
Popular cryptocurrency tracker Whale Alert, which monitors large crypto transactions, has drawn the community’s attention to two ancient Bitcoin wallets that have come back to life over the past two days.
Both formerly dormant whales now have reactivated their wallets, with mammoth-size profits on their BTC holdings.
Satoshi-era Bitcoin Whales Coming Back
Whale Alert revealed that almost 14 hours ago an ancient whale reactivated his wallet, which contains 53 BTC. With the current Bitcoin price, this is the equivalent of $3,498,414, while back in 2013, this amount of BTC was worth $3,716. This Bitcoin investor has seen staggering growth of 94,044% on his profit.
A dormant address containing 53 #BTC (3,498,414 USD) has just been activated after 11.1 years (worth 3,716 USD in 2013)!https://t.co/jK81cnZjug
— Whale Alert (@whale_alert) July 23, 2024
Another early Bitcoin investor was spotted activating his wallet by the same data source on July 22. That wallet contains $1,352,704 – 20 Bitcoins, which were last transferred 13.4 years ago – in 2011.
— Whale Alert (@whale_alert) July 22, 2024
That was a year after the mysterious Bitcoin creator, Satoshi Nakamoto, left the public space, leaving his brainchild in the hands of developers who were keen to take BTC further.
Last week, several other ancient wallets with a large amount of Bitcoin came back from dormancy, bringing large profits to their owners.
Bitcoin Heading Toward $67,000
Cryptocurrency analyst and trader Ali Martinez has shared his take on what direction the world’s flagship cryptocurrency, Bitcoin, is taking at the moment.
Over the past 24 hours, BTC dropped by 2.16%, losing the $67,000 level and falling back to slightly above $65,000.
Over the last two days, Bitcoin has plunged by 3.62% as it dropped from the $68,290 zone. That was the second time that BTC strived to break above that price level this week. By now, BTC has recovered from $65,512 to $66,458.
Ali Martinez has tweeted that Bitcoin is “showing signs of a breakout,” and it is might be heading as high as $67,000. BTC now needs to break through the $66,450 level in order to keep going higher.
#Bitcoin is showing signs of a breakout, possibly heading towards $67,000!
The RSI has already broken its descending trendline, and now $BTC needs to surpass $66,450 to confirm the bullish breakout. pic.twitter.com/nHhNLFmVHp
— Ali (@ali_charts) July 24, 2024
The short-lived Bitcoin decline this week coincided with spot Ethereum exchange-traded funds going live on stock exchanges.
Bitcoin maximalist Max Keiser tweeted on Tuesday that while the launch of spot Bitcoin ETFs has confirmed BTC’s status as digital gold, Ethereum ETFs will reduce its appeal to investors.
The added scrutiny the #Bitcoin ETF brought has INCREASED its appeal as digital Gold.
For ETH it’s the opposite. The added scrutiny will diminish its appeal as investors realize it’s a proof-of-stake Ponzi scheme with a massive pre-mine that insiders are dumping on noobs.…
— Max Keiser (@maxkeiser) July 23, 2024
Once again, Keiser has slammed Ethereum: “It’s a proof-of-stake Ponzi scheme with a massive pre-mine that insiders are dumping on noobs.”
