After being inactive for 9.3 years, a dormant Bitcoin wallet holding 6,071 BTC, worth $178 million, has unexpectedly been reactivated.
Just $3.3 million worth of Bitcoins were previously stored in the Satoshi-era wallet in 2013.
The unexpected activation of the wallet has the bitcoin world fascinated, and many people are making assumptions about who owns the wallet and why it was suddenly activated.
According to the wallet’s transaction history, the first transaction happened on December 19, 2013, and the most recent one happened on April 19.
2,071 BTC out of the entire 6,071 BTC were shifted. As the funds did not end up in any known exchange wallets, Ki Young Ju, a well-known cryptocurrency analyst and the man behind the CryptoQuant company, hypothesises that the transfer was probably carried out as an over-the-counter (OTC) deal.
$173 million is the stunning gain for the unidentified wallet possessor from the significant price shift during the intervening years.
Data from CoinGecko show that the price of one bitcoin is presently $29,269.23, suggesting a considerable increase in value since the wallet’s launch.
The larger cryptocurrency market will be closely monitored by market players along with any further activity from this whale address.
