Dormant Bitcoin Wallet with $6.99 Million Reawakens After 12.4 Years

A Bitcoin address that has been inactive for over 12 years has suddenly become active, according to Whale Alert.

The address, which holds 119 BTC now valued at nearly $7 million, was worth just $599 back in 2012, marking an incredible gain of over 1,166,666%.

This recent reawakening signals a potential market sell-off, as it suggests the holder might be planning to liquidate their Bitcoin, which can increase selling pressure and potentially drive prices down.

Interestingly, this isn’t an isolated case. There has been a noticeable trend this month of old Bitcoin wallets becoming active again.

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For instance, just a few hours before this latest reactivation, Whale Alert reported another dormant address coming back to life with around $2.6 million worth of BTC. Additionally, on July 2, an address containing $2.1 million in Bitcoin was activated after 13 years of inactivity.

These movements are particularly noteworthy against the backdrop of Bitcoin’s recent price struggles. The cryptocurrency recently dipped to $57,300, a level not seen since late April.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.