According to U.Today, a dormant Bitcoin wallet, inactive since the Satoshi Nakamoto era, has been reactivated. The wallet, which contains Bitcoin worth millions of dollars, was reactivated following Bitcoin's significant drop and subsequent partial recovery. The blockchain address, which holds 50 BTC valued at $3,314,211 at the time of the announcement, had been untouched for 14 years. The last Bitcoin activity in this wallet was in 2010, the year when Bitcoin's enigmatic creator, Satoshi Nakamoto, decided to step back from Bitcoin and vanished, leaving his creation in the hands of a few dedicated developers.
In recent months, several dormant cryptocurrency wallets, inactive for 10-14 years, have been noticed to awaken. These wallets hold early mined or purchased Bitcoin coins, as well as Ethereum acquired during the 2014 ICO. Typically, many holders choose to sell their old holdings after a decade, aiming to profit from the surge in BTC or ETH prices. However, in many instances, users only manage to recover their long-lost private keys by now.
Over the past weekend, Bitcoin experienced a significant drop of more than 12%, falling from the recently regained $70,900 to $61,970. This drop is believed to be due to a new development in the Middle East. However, Bitcoin has since recovered by more than 7%, reaching $66,342 – the price at which it is currently trading.
MicroStrategy's founder, Michael Saylor, recently shared a graph on the X platform showing his company outperforming Bitcoin. The graph indicates that since August 2020, when the company began regular Bitcoin purchases to add to its balance sheet, MSTR's price has risen by an impressive 1,097%. During the same period, Bitcoin appreciated by 463%, with gold increasing only by 16% and silver decreasing by 1%. MicroStrategy has acquired its Bitcoin in recent years by issuing Convertible Senior Notes and other similar types of securities to raise funds from investors to purchase additional Bitcoin.
