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Satoshi-Era Bitcoin Wallet Shows 7,634% Bitcoin Profit, Awakening After 10.6 Years

Published 07/06/2024, 07:40 AM
Updated 07/06/2024, 11:00 AM
© Reuters.  Satoshi-Era Bitcoin Wallet Shows 7,634% Bitcoin Profit, Awakening After 10.6 Years

U.Today - According to several sources, earlier today, a dormant Bitcoin wallet was reactivated by its anonymous owner. The last time this whale used his cryptocurrency wallet was 10.6 years ago.

Now, the value of Bitcoin held in it has skyrocketed by almost 8,000%, making its owner a millionaire. This was the fourth dormant BTC wallet that had awakened over the past week.

Satoshi-era Bitcoin wallet awakens with millions in BTC

Whale Alert transaction tracker and on-chain analytics platform Spot On Chain have noticed the reawakening of the aforementioned whale, which contains 1,004 BTC.

While this wallet bought these coins back in 2013 and 2014 at an average price of $731 and back then this crypto was worth $737,000, by now, it has staged a whopping 7,634% price increase and is valued at a staggering $56,924,352.

Chinese cryptocurrency journalist and blogger Colin Wu has reported that this dormant whale has transferred all his crypto to a new wallet by now. Earlier this week, three other dormant wallets came back to life holding a lot of Bitcoin — $1.14 million, $2.6 million, $6.9 million in the Bitcoin equivalent.

Bitcoin regains $56,000 after falling under $54,000

Over the past 24 hours, the global leading cryptocurrency Bitcoin has put up a nice 4.56% increase. BTC has managed to recover after falling slightly under the $54,000 level on Friday and is changing hands in the $56,500 zone as of this writing.

The price increase took place despite the U.S. and German governments continuing to dump massive chunks of Bitcoin on the market, and they have now been joined by Mt. Gox. The early and non-functional for the past 10 years crypto exchange has finally started paying the Bitcoin and Bitcoin Cash it owns to its investors and traders.

Still, a positive non-farm payroll report came out for June on Friday, showing a rise in employment, and this allowed Bitcoin to regain some of its recent losses.

This article was originally published on U.Today

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