Decade-Old Satoshi-Era Bitcoin (BTC) Address Springs Back to Life

• According to Whale Alert, a dormant Bitcoin wallet containing 687 BTC (valued at $43.9 million) has been activated after over a decade of inactivity.
• The activation comes as Bitcoin’s price reclaims the $64,000 mark, although no direct correlation has been found between the two events.
• The wallet dates back to the era of Bitcoin’s creator, Satoshi Nakamoto, sparking speculation and market movements, despite no concrete evidence linking the two.

A dormant Bitcoin wallet containing 687 BTC has been activated after a decade, amidst Bitcoin’s price resurgence. The wallet’s origins trace back to the era of Bitcoin’s elusive creator, Satoshi Nakamoto, stirring market speculation.

Revival of a Dormant Bitcoin Wallet

A dormant Bitcoin wallet, containing 687 BTC (approximately $43.9 million), has been activated after more than a decade of inactivity. This sudden activation was reported by Whale Alert, a popular tool for tracking cryptocurrency wallets. The revival of this wallet comes as Bitcoin’s price managed to reclaim the $64,000 level, with the leading cryptocurrency currently trading at $64,380, according to CoinGecko data.

No Direct Correlation with Bitcoin’s Price Spike

Despite the timing, the awakening of this Bitcoin whale is unlikely to be directly related to the recent price spike. Data from Chainalysis indicates no direct correlation between the price performance of Bitcoin and the activation of old wallets. Currently, around $115 billion worth of Bitcoin is lying dormant in wallets that have been inactive for over 10 years. While some of these wallets are activated due to various reasons, analysts estimate that around 1.5 million coins will still be lost forever.