Satoshi-Era Bitcoin Wallet Reveals 7,634% Profit After 10.6 Years of Dormancy

A dormant cryptocurrency wallet has been reactivated today after remaining inactive for over 10 years. The anonymous owner of this wallet has become a millionaire as the value of Bitcoin held within has surged nearly 8,000%.

This particular wallet is the fourth dormant Bitcoin account to awaken in the last week. Notably, transaction monitoring platforms have flagged this wallet, which contains a total of 1,004 BTC. The owner originally purchased these coins in 2013 and 2014, at an average price of $731 each. At the time, the wallet’s total value was approximately $737,000; however, it has since skyrocketed by 7,634%, now valued at an impressive $56,924,352.

Reports indicate that the reactivated whale has already transferred all of its cryptocurrency to a new wallet. Earlier this week, three other dormant wallets also became active, holding significant amounts of Bitcoin valued at $1.14 million, $2.6 million, and $6.9 million, respectively.

In the broader market, Bitcoin has regained momentum, increasing by 4.56% over the past 24 hours after briefly dipping below the $54,000 mark. As of now, Bitcoin is trading around the $56,500 range. This price recovery comes despite ongoing selling activities from various institutions, including the U.S. and German governments, as well as the crypto exchange Mt. Gox, which has begun distributing Bitcoin to its customers after a long hiatus.

Additionally, a positive non-farm payroll report released on Friday indicated a rise in employment, which likely contributed to Bitcoin’s recent resurgence after previous losses.