A Bitcoin address that had remained untouched for more than 15 years has suddenly become active.
According to Galaxy Research, the address contains 8.54 BTC (roughly $538,000 at current prices). It moved its holdings in block 962770.
The Bitcoin had remained dormant since it was first received on June 13, 2011. The wallet had remained inactive for over 15 years.
The transaction generated an extraordinary realized gain of about $538,000. This is an estimated increase of 461,981% from the address's acquisition cost. Galaxy Research put the original basis at approximately $14 per BTC.
Even though it is highly unlikely that the coins are related to Satoshi Nakamoto, the pseudonymous creator of the original cryptocurrency, it is rather notable that the address was created just months after whoever was behind the creation of BTC left their last post on social media.
Other recent whale transfers
There have been other notable whale transfers over the past month. Whale Alert reported on Aug. 12 that a dormant pre-mine Ethereum address containing 2,680 ETH was activated after 11 years. The coins were worth approximately $5.05 million at the time.
Three days earlier, another Ethereum pre-mine address containing 2,000 ETH was activated after roughly 11 years. Those holdings were valued at about $3.84 million.
On Aug. 3, Whale Alert flagged a Bitcoin address holding 500 BTC that had been dormant for around 12.7 years. The coins were worth approximately $31.3 million at the time of activation.
Another dormant Ethereum pre-mine address containing 2,000 ETH was activated on July 26 after approximately 11 years, with the holdings being valued at about $3.83 million.
Such transactions do not necessarily indicate an impending sale. Dormant coins can be moved for a variety of reasons, including wallet reorganizations and security upgrades.
U.Today Editorial Team
Dan Burgin
