A wallet containing 400 BTC has just been reactivated after almost 9 years of downtime. This amount of assets is equivalent to nearly 18 million USD compared to the current market price.
According to data from cryptocurrency transaction tracker Whale Alert, an anonymous user reactivated a wallet containing 400 BTC after nearly nine years of inactivity on September 23. Currently, this amount of Bitcoin is worth nearly 18 million USD.
In 2012, this amount of Bitcoin was only worth about $4,335. Compared to the current price, this anonymous user's assets have increased by more than 4,020 times.
The Whale Alert post confirms a 400 BTC wallet has been reactivated after almost 9 years of inactivity.
Earlier this week, another Bitcoin address was reactivated after being inactive since 2012. That Bitcoin wallet contained 616 BTC worth nearly $30 million at Monday's exchange rate. Back in 2012, that 616 BTC cost $6,667.
“Bitcoin whales” is the term for wallets with large BTC balances, which can affect the market. This is not the first time that older Bitcoin wallets have been activated after a long period of inactivity. On August 18, Whale Alert shared the “revival” of a Bitcoin “whale” under Satoshi when there was a withdrawal transaction of 484 BTC after more than 7 years of downtime.
Earlier in February, nearly 2,200 BTC, worth over $105 million at the time, was also moved from a Bitcoin wallet that had been inactive for a long time. That suggests that early Bitcoin investors may be turning this money into another asset class.
James Howells, a British engineer, accidentally threw away a hard drive containing 7,500 Bitcoins in 2013, estimated to be worth $246 million. These Bitcoins were obtained from the time when Howells used computer CPUs to mine. As of November 2013, the value of Bitcoins stood at $6.5 million. Since then, he has always been looking for ways to recover hard drives from landfills.
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