Dormant Bitcoin wallet reactivates after 11 years with massive gains

A dormant Bitcoin (CRYPTO:BTC) wallet, inactive for over 11 years, was recently reactivated, drawing attention in the cryptocurrency community.

The address, holding 100 BTC, became active again on August 29, 2024, as reported by blockchain tracking service Whale Alert.

When last used in 2013, the wallet was worth only $14,202; it now holds approximately $6.02 million, reflecting an unrealised return on investment (ROI) of over 42,000%.

The reactivation of such an old wallet has sparked significant interest and speculation within the crypto community.

Many praised the owner’s patience, with one user on X remarking on the impressive growth from $14k to nearly $6 million, calling it the "true definition of diamond hands."

Others speculated whether the owner might regret not selling when Bitcoin hit its all-time high of $73,798 earlier this year, which would have turned the investment into over $7.3 million.

This event is not isolated.

On August 7, another dormant wallet was reactivated, moving 250 BTC worth nearly $14 million at the time.

This address, linked to an anonymous miner, had an initial value of just $250 when last active in May 2010.

Similarly, on August 17, a wallet containing 18 BTC came back online after being dormant for over a decade, with its value rising from $9,204 in 2014 to around $1.091 million upon reactivation.

According to a March 2024 report by Chainalysis, over 1.7 million BTC addresses have been inactive for more than ten years.

This period, often referred to as the "Satoshi era," is associated with early Bitcoin miners and investors who acquired the cryptocurrency when it was still relatively unknown and inexpensive.

When such wallets are reactivated, their owners often find themselves with substantial profits due to Bitcoin’s significant growth over the years.

These reactivations underscore the potential gains for early Bitcoin adopters and highlight the cryptocurrency's volatility and long-term growth potential.

The events serve as a reminder of the enduring impact and rewards of holding digital assets over time.

At press time, the Bitcoin price was $59,218.10.