A Bitcoin wallet dormant for 12.8 years, holding 479 BTC valued at $53.68 million, was activated, detected by Whale Alert.

Dormant Bitcoin Wallet Containing $53.68M in BTC Activated After 12.8 Years

A dormant Bitcoin wallet containing 479 BTC, valued at approximately $53.68 million, was activated after 12.8 years of inactivity, according to Whale Alert.

Event Details

The wallet, holding 479 BTC, had been inactive for 12.8 years before being reactivated. The activation was detected by Whale Alert. Similar instances of dormant wallets being activated have drawn attention in the crypto space. For example, in May 2024, a wallet containing 687 BTC, valued at over $43 million, was activated after being dormant for over a decade.

Market Implications

The movement of a large amount of Bitcoin could lead to speculation and potential market volatility. The transfer of 479 BTC could cause short-term price fluctuations. Reactivation of dormant wallets can indicate significant movements in the market, such as consolidation or rebalancing, which can alter liquidity and market sentiment.

Expert Commentary

On-chain analytics platforms Whale Alert and Lookonchain confirmed the reactivation, including a small test transaction, suggesting potential larger movements in the future.

Broader Context

Dormant Bitcoin wallet activations have recently caught the attention of many in the crypto space. One notable example was a wallet holding 10,000 BTC (around $1.09 billion) that had been inactive for over 14 years. After more than 14 years of inactivity, bitcoin wallet addresses holding 10,000 BTC each were activated. Lookonchain suggested the same entity controlled both addresses, as well as six other addresses that also received 10,000 BTC each on May 4, 2011, when the price of bitcoin had risen to $3.37.