According to Whale Alert, the tracker of large transactions of cryptocurrencies from wallets to exchanges, two Bitcoin addresses that have been dormant for 12.4 years have just been activated.
Going by the report, the dormant addresses contained 50 BTC each worth $8 in 2010. It’s worth noting that Bitcoin in each wallet is now worth around $2.1 million at current prices.
Read Also: A Dormant Bitcoin Address Containing 489 BTC worth $50 in 2010 Just Moved After 11.4 Years
💤 A dormant address containing 50 #BTC (2,158,390 USD) has just been activated after 12.4 years!https://t.co/SWsq8ubLVm
— Whale Alert (@whale_alert) April 7, 2022
💤 A dormant address containing 50 #BTC (2,165,186 USD) has just been activated after 12.4 years!https://t.co/l4nWRMAz66
— Whale Alert (@whale_alert) April 7, 2022
The reason for being dormant for that long has made many members of the crypto community wonder. It’s not clear whether the owners of the wallets just found the lost keys to access the Bitcoin stashes.
Massive Increase in 12 Years
As earlier stated, the wallets have been inactive since 2010 when Bitcoin or crypto was sparsely known and BTC was priced at around $8.
So, holding the Bitcoin stash for this long implies that the coins have gained roughly 53 million percent compared to the current price of BTC in the market.
Although the owners of the wallets spent only $4 each to acquire the BTC, they are certainly now Bitcoin millionaires.
As expected, a number of Twitter users have reacted to the rare transactions. As some think owners likely misplaced the keys and recently found them as aforementioned, others are of the opinion that owners of the wallets have likely been away since 2010.
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