The wallet does not contain a lot of Bitcoin, however, there is enough BTC to make its owner a millionaire thanks to the massive profit seen in those 11 years.
Back in 2013, this amount of BTC was evaluated at merely $2,598. The difference between these two values constitutes a staggering 63,946.1% increase in Bitcoin value.
As reported by U.Today, earlier this week, several other dormant Bitcoin whales got their funds moving after staying dormant for 10 or more years – the times when the shadow of the mysterious Bitcoin creator Satoshi Nakamoto was still around, and certain members of the BTC community remembered chatting with him on the BitcoinTalk forum.
Frequently enough, dormant Bitcoin wallets again become active after a decade since their owners manage to recall their lost private keys to their BTC held in cold storage. However, once these wallets are reactivated, the whales begin to sell their Bitcoin partly, or all of it.
“Bitcoin’s amount of holders have been dropping aggressively,” Santiment’s tweet stated, naming a key reason for it – traders believe that the world’s flagship cryptocurrency’s price will hardly increase higher than the all-time high reached by Bitcoin in March this year. Back then, BTC skyrocketed to hit $73,750. The overall amount of Bitcoin holders (with more than zero BTC) has dropped by 672,510 compared to June.
However, Santiment then pointed out that such mass Bitcoin liquidations only increase the probability of a continued BTC rebound.
At the time of this writing, Bitcoin is changing hands at $64,033. Since this Wednesday, Bitcoin has seen an almost 2.8% decline in total.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
