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Dormant Bitcoin Address Holding $56.3M Springs to Life After Nearly 6 Years

Tue, 09/19/2023 - 05:37
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Alex Dovbnya
A dormant Bitcoin address containing around 2,100 BTC—or approximately $56.3 million at today's rates—has suddenly become active after nearly six years
Dormant Bitcoin Address Holding $56.3M Springs to Life After Nearly 6 Years
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A dormant Bitcoin address has suddenly sprung back to life. PeckShield, a blockchain security firm, announced in a tweet that an inactive address containing roughly 2,100 BTC, or around $56.3 million at today's prices, was reactivated. 

Originally, the address received this amount of Bitcoin on Oct. 19, 2017, when it was worth approximately $11.8 million. The sizable transfer adds a layer of mystery and anticipation to an already volatile market.

Dormant whales  

This awakening joins a list of similar events that have occurred recently, including the reactivation of a Satoshi-era Bitcoin address after nearly 13 years. There are various reasons why a dormant Bitcoin address may re-emerge after years of inactivity. It could be due to the owner taking advantage of the currency's current valuation. 

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The original deposit was worth around $11.8 million, but its value has ballooned to approximately $56.3 million, signifying a hefty return on investment. There's also the possibility that the owner might be preparing for an event, such as a major sale or investment. 

On the darker side, these transactions sometimes occur when an entity wishes to "clean" funds through mixers or other privacy-focused platforms. 

The current state of the market 

At press time, Bitcoin is priced at around $26,867, showing minor fluctuations with a 0.8% increase in the last 24 hours and a 4.2% gain over the past week. Ethereum, BNB, and XRP trail behind, rounding out the top five cryptocurrencies. Overall, the market has shown modest gains over the last week, a context that may or may not relate to the reactivation of dormant addresses like this one.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at