According to Whale Alert, the tracker of large transactions of cryptocurrencies from wallets to exchanges, a Bitcoin address that has been dormant for 11.4 years has just been activated.
Going by the report, the dormant address contains 486.091 BTC worth $50 in 2010. It’s worth noting that the BTC stash is now worth $20.2 million at current prices.
The dormant address 17QBWJCGV4QbQhLbhcS7d9yB2S7DPLf4N9 moved the stashed BTC to another address of unknown origin 1LdJ4nyxrJqNB1oyr76rYerb2KDZk9wAvo.
Whale Alert tweeted, “A dormant address containing 489 BTC (20,242,263 USD) has just been activated after 11.4 years (worth 50 USD in 2010).”
As expected, the development attracted tons of reactions. People acknowledged the courage of the wallet owner to keep such a mammoth amount for more than a decade.
A user wrote, “This guy just realized a 404,000x investment return, only comparable to investments in .com domains that sold for millions.”
Some users also suggested that the wallet has finally been hacked after several attempts. While others think the owner of the wallet just got out of a long jail term or quantum computers have started to crack dormant wallets.
A user wrote “Someone just got out of jail? OR, Quantum computers are cracking dormant wallets?”
Another said, “I fear quantum computers already starting to crack those dormant wallets. let’s hope it won’t become a trend it’s quite scary thinking about it.”
Whatever the case may be, this is a lesson for all crypto investors. Holding the flagship crypto, Bitcoin (BTC), for the long might turn out to be a great investment decision after a decade. But who can leave such a huge amount in a wallet for a decade?
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