Based on what was revealed by blockchain tracking tool Whale Alert, it was found that an inactive Bitcoin wallet with a balance of 407 bitcoins (approximately $ 15.5 million at current prices) had just made its first transaction in a long time. This wallet has not shown any activity for 8.3 years only worth $ 355,254 in 2013. With this this wallet has recorded a jump of 4.254% at this point.
The wallet address was found not to be associated with any individual or firm, triggering a lot of reactions from the crypto community. Some say the wallet may have belonged to someone who had just come out of prison while others linked it to Bitcoin pseudonym creator Satoshi Nakamoto who went missing 11 years ago.
💤 A dormant address containing 407 #BTC (15,460,523 USD) has just been activated after 8.3 years (worth 355,254 USD in 2013)! Https: //t.co/QxXaQHvmLI
- Whale Alert (@whale_alert) March 7, 2022
This wallet is reactivated by its owner who has not done any transactions on it for years. Some of the reasons wallets are left inactive are: investors lose their wallet private keys and take time to get them back. Second, the individual is likely to serve a prison sentence. All three are long -term investors who deliberately hold on to their cryptocurrencies in the hope that prices will continue to rise.
At the same time, some are unlucky enough to fail to recover their lost private keys to regain access to their accounts.Holders of these accounts can only see when the value of their crypto holdings increases without being able to enjoy it.
Last June, the inactive BTC wallet with a balance of $ 11 million was reactivated where it only had a balance of $ 1,894 in 2011.
