Dormant Bitcoin Address Containing 50 BTC Comes Back to Life After 14 Years of Inactivity

Popular whale tracking service Whale Alert called attention to the development today in an X post.

A Bitcoin address that has been inactive for 14 years has recently carried out two transactions, transferring 50 BTC tokens. At the time of the transactions, the value of the 50 BTC had surged to a massive $3,387,175 ($3.38 million).

The last time the owner of the 50 BTC moved the funds was in July 2010, when BTC was trading at $0.04 per coin. This means that the user acquired 50 BTC for just $2, and the latest transactions show an ROI of 169,358,650%.

According to the transaction details, the user made their first transaction in over 14 years today at 05:30 UTC, moving the 50 BTC to two separate blockchain addresses containing 47 BTC and 3 BTC, respectively.

The recipient addresses are still holding on to the funds in the hours leading up to press time.

This development comes amid a trend of dormant Bitcoin addresses reawakening and making transactions. Several reports of such transactions have been covered by The Crypto Basic.

On October 13, some 1,379 BTC tokens made their first transaction after five to seven years of inactivity. Also, on September 20, several Bitcoin miners' wallets reawakened after being dormant for 15.5 years. Five of these addresses, which received around 50 BTC per block in 2009, moved 250 BTC worth $15.9 million in one hour.

It is important to note that the reawakening of dormant crypto addresses is not limited to only Bitcoin. There have also been reports of the revival of dormant blockchain addresses containing other assets like Ethereum.

For instance, an 8.5-year dormant Ethereum address came back to life on September 15 to move some portions of its 16,636 ETH holdings.

Given the recent surge in the reawakening of dormant crypto addresses, this development did not trigger panic among investors. Many believe the portfolio size is too small to seriously impact Bitcoin’s price.

In the meantime, Bitcoin has been up 0.68% over the past 24 hours, and the asset is currently trading at $68,227.