In a groundbreaking development, a dormant Bitcoin wallet from the early days of the cryptocurrency has been activated after 13.6 years, containing 64 BTC worth a staggering $4,147,400. This wallet is believed to date back to the “Satoshi era,” a period when Bitcoin’s mysterious founder, Satoshi Nakamoto, was actively involved in the community.
Recent weeks have seen a series of dormant Bitcoin wallets being activated, with some experiencing astronomical gains. For example, a wallet containing 142 BTC saw an increase of 11,454% after 10.8 years of inactivity. Another wallet with 19 BTC gained 8,844% after 10.7 years, and a wallet holding 174 BTC surged to over $10.1 million from $142,600 in 2014 after 10.6 years of dormancy.
Bitcoin Price Surges
Bitcoin’s price soared to $64,987 following comments by Federal Reserve Chairman Jerome Powell hinting at a potential monetary easing cycle. Powell’s speech at the Jackson Hole Summit signaled a shift in policy, leading to a bullish sentiment in the cryptocurrency market. As a result, Bitcoin reached highs of $64,529 in Saturday’s trading session.
Currently, Bitcoin is trading at $63,929, showing a slight decline of 0.43% in the last 24 hours. Analysts suggest that breaking past the $67,300 resistance level could pave the way for Bitcoin to reach $80,500 in the near future.
This activation of dormant Bitcoin wallets is significant as it indicates the involvement of early BTC adopters in the market. These developments can have a profound impact on the cryptocurrency ecosystem and investor sentiments.