Satoshi-Era Bitcoin Whale Suddenly Wakes Up With 400,179% Profit

A previously inactive Bitcoin wallet containing 48 BTC, valued at approximately $2.57 million, was activated today after 13 years, according to reports. This wallet received its coins when Bitcoin was priced at just $13.70 each, marking an incredible gain of 400,179%.

The reactivation of such long-dormant addresses usually leads to bearish sentiments among market players. It often indicates that holders may be poised to sell, potentially inundating the market with significant amounts of Bitcoin and increasing upward selling pressure.

This month has witnessed a trend of long-overlooked wallets coming back to life, with today’s activation being part of this larger phenomenon. Recently, another dormant address was activated, containing around $8 million worth of Bitcoin. Additionally, two wallets holding over $2 million each were reactivated after lengthy periods of dormancy last week.

These shifts are particularly striking given the current market conditions. Bitcoin prices have recently reached their lowest levels in months, hitting around $54,300, a figure not seen since late April.

In one recent instance, the holder of the dormant wallet transferred 1.949 BTC, valued at about $111,450, to a new address labeled “bc1q6p.” Another 1 BTC was sent to a different new address, “3J4Ng.” It is expected that the investor may further distribute their Bitcoin holdings through these new addresses.

The use of diverse Bitcoin address formats by the holder is also noteworthy. Traditional addresses start with “1,” multisignature addresses with “3,” and SegWit addresses begin with “bc1.” Each format offers different levels of security and transaction efficiency.