Ancient Bitcoin Whales Suddenly Awake After 10.7 Years With 49,274.2% Profit
Calm Sunday morning was disrupted when two dormant Bitcoin (BTC) wallets, untouched for over a decade, suddenly came to life, causing a stir in the cryptocurrency market. Lookonchain’s latest findings reveal that these wallets, inactive for precisely 10.7 years, rapidly transferred their entire holdings of 1,000 BTC, currently valued at a staggering $60.9 million, within a mere 20-minute window.
The wallets, known as “16vRqA” and “1DUJuH,” originally received their deposits of 500 BTC each in September 2013, when Bitcoin was worth a modest $124 per coin. Since then, the value of these wallets has skyrocketed, boasting a mind-boggling profit margin of 49,274.2%. In monetary terms, this represents a jaw-dropping windfall of $60.8 million, equivalent to a remarkable $5.7 million in annual profit accumulated over the past 11 years.
The sudden reactivation of these dormant BTC whales has ignited intense speculation in the cryptocurrency community. Analysts suggest that this move could signal a significant shift in market sentiment. It is interesting to note that despite the massive profits, the owners of these wallets have chosen not to cash out through exchanges but rather transferred their assets to undisclosed wallets, adding a layer of mystery to their motives.
In the past, the emergence of long-dormant Bitcoin holders has often been seen as a bearish signal, indicating a potential sell-off to secure profits. However, the unique circumstances surrounding these ancient wallets have left the market eagerly anticipating their next move.