The tranquility of a Sunday morning was abruptly shattered as two long-dormant Bitcoin (BTC) wallets, untouched for over a decade, sprang to life, igniting a flurry of activity within the cryptocurrency sphere.
Recent research from Lookonchain unveils the startling revelation that these wallets, dormant for precisely 10.7 years, swiftly executed transfers of their entire holdings amounting to 1,000 BTC, presently valued at an impressive $60.9 million, all within a mere 20-minute timeframe.
These wallets, identified as “16vRqA” and “1DUJuH,” initially received deposits of 500 BTC each in September 2013, during a time when Bitcoin was valued at a modest $124 per coin.
Fast forward to the present day, and these addresses have experienced an exceptional surge in value, boasting an astronomical profit margin of 49,274.2%. In tangible terms, this translates to a staggering $60.8 million windfall, equating to an extraordinary annual profit of $5.7 million accrued over the past 11 years.
The sudden reactivation of these dormant BTC whales has ignited fervent speculation within the cryptocurrency community. Analysts are grappling with the implications of such a move, with many suggesting that it could signify a pivotal shift in market sentiment.
Historically, the emergence of long-dormant Bitcoin holders has often been viewed as a bearish signal, indicating a potential sell-off to capitalize on accrued profits. However, the unique circumstances surrounding these ancient wallets have left the market eagerly anticipating their next move.
