Dormant Bitcoin Whale Awakens with Remarkable 63,946% Profit

Whale Alert, a well-known blockchain tracking service, has reported that a dormant Bitcoin wallet has become active again after being inactive since 2013.

Although the wallet does not hold a substantial amount of Bitcoin, the funds are still significant enough to make the owner a millionaire due to the remarkable increase in Bitcoin’s value over the past 11 years.

### Reactivation of a Satoshi-era Bitcoin Wallet

According to the data source, this anonymous wallet was reactivated after nearly a dozen years. It currently contains 26 Bitcoin, valued at approximately $1,663,917 based on current market rates. Back in 2013, this same amount of Bitcoin was worth just $2,598, reflecting an astonishing increase of 63,946.1% over this period.

Earlier this week, several other dormant Bitcoin wallets, which had remained inactive for 10 or more years, also saw their funds moved. These were times when the enigmatic Bitcoin creator, Satoshi Nakamoto, was still a topic of discussion, and some community members fondly recalled their interactions with him on the BitcoinTalk forum.

It’s not uncommon for dormant wallets to be reactivated after many years when owners manage to retrieve their lost private keys, allowing them access to their Bitcoin stored in cold storage. Once these wallets are active again, it is typical for these “whales” to sell off either a portion or all of their holdings.

### Decline in Bitcoin Holders

In related news, on-chain data aggregator Santiment has observed a significant decline in the total number of wallets holding at least one Bitcoin. They noted that Bitcoin holders have been dropping sharply, attributing this trend to traders’ belief that the cryptocurrency may struggle to surpass its all-time high reached in March of this year, when it peaked at $73,750. Since June, the number of Bitcoin holders (those with more than zero BTC) has decreased by 672,510.

Despite this decline, Santiment highlighted that such widespread liquidations of Bitcoin could potentially increase the likelihood of a price rebound.

Currently, Bitcoin is trading at around $64,033, reflecting a nearly 2.8% decrease since Wednesday.