A Bitcoin wallet that had been inactive for nearly a decade has suddenly come to life, transferring 174.88 BTC—now worth over $10.2 million.
This wallet, which received its Bitcoin on January 8, 2014, made its first transaction on August 16, 2024, catching the attention of the cryptocurrency community.
Back in 2014, the Bitcoin in this wallet was valued at around $142,000.
The dramatic rise in Bitcoin’s value over the years has transformed that modest sum into a fortune, reflecting the incredible growth of the cryptocurrency market.
Today, Bitcoin’s price has stabilized at $59,300, after briefly reaching $73,000 earlier this year.
The transaction was executed with a fee of 67,500 satoshis, approximately $39.43. Although this fee was significantly higher than necessary—about 50 times more—it ensured a swift confirmation of the transaction.
This movement is part of a recent trend where several dormant Bitcoin wallets have been reactivated, each moving large sums and fueling speculation about the motivations behind these transactions.
For instance, in July, a wallet that had been dormant for years moved $6.9 million worth of Bitcoin, and another transferred $3 million to Binance in June after 14 years of inactivity.
These activities have led to an increase in the number of Bitcoins in inactive wallets, growing from 7.4 million in January 2024 to 18.3 million currently, according to BitInfoCharts.
Such movements are closely watched by investors, as they can signal shifts in market dynamics, potentially leading to increased supply pressures and heightened volatility.
