Dormant Address with 100 Bitcoin Reactivated After 11 Years

Bittime - A dormant address, or an address that has been inactive for almost 11 years, was observed to be active again. 

This dormant address holds 100 Bitcoins, which, when calculated based on current market value, has a floating profit of more than 6 million US dollars. Read this article to find out more!

Dormant Address Reactivated After 11 Years

In the crypto world, dormant addresses are wallets or accounts that have been inactive for a long time, good because there have been no incoming or outgoing transactions for a long period of time. 

In this case, an address that had been inactive for almost 11 years, 10 years and 8 months to be precise, was finally reactivated. 

Whale Alert, a platform that monitors large transactions on the blockchain, revealed that this address was last used in 2014.

Read Also: Bitcoin Price Predicted to Reach New ATH Later This Year  

Dormant Address: Floating Profit $6 Juta

Bitcoin was first created in 2009 by Satoshi Nakamoto. Since then, Bitcoin's value has continued to fluctuate. 

When this dormant address first accepted Bitcoin in 2014, the value of 100 BTC was only about $83,492. However, in a period of 10 years and 8 months, the price of Bitcoin has skyrocketed so that 100 Bitcoins are now worth more than 6 million US dollars.

This shows the huge potential of long-term investment in Bitcoin. Even though the price of Bitcoin is very volatile, investors who can persist for a long period of time can often reap extraordinary profits, as happened to the owner of this dormant address.

Impact of Dormant Address on Bitcoin Price

So, will the activation of these dormant addresses have an impact on the price of Bitcoin? While 100 BTC isn't a huge amount when compared to Bitcoin's daily transaction volume, things like this are often a concern for investors. 

In some cases, the activation of dormant addresses can cause a minor panic among investors, who fear the potential for a large sell-off that could drive down the price of Bitcoin. 

However, in many other cases, such transfers are often simply a restructuring of assets without any intention to sell in large quantities on the open market.

Read Also: Bitcoin Market Is Not Very Leveraged Right Now, Time To Take A Long Position?   

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