According to U.Today, a Bitcoin wallet that had been inactive since 2013 has recently been reactivated. The wallet, which contains 26 BTC, is now valued at $1,663,917 based on the current BTC/USD exchange rate. This marks a significant increase from its 2013 value of $2,598, reflecting a 63,946.1% rise in Bitcoin's value over the past 11 years.
The reactivation of this wallet is part of a broader trend where dormant Bitcoin wallets become active again after many years. Often, the owners of these wallets manage to recover their lost private keys, enabling them to access their BTC held in cold storage. Once reactivated, these wallets frequently see their owners selling part or all of their Bitcoin holdings.
Earlier this week, several other dormant Bitcoin whales also moved their funds after being inactive for a decade or more. This period coincides with the early days of Bitcoin when its mysterious creator, Satoshi Nakamoto, was still active in the community.
In related news, the number of Bitcoin holders has seen a sharp decline. According to on-chain data aggregator Santiment, the overall number of wallets holding at least one BTC has dropped significantly. This decline is attributed to traders' skepticism about Bitcoin's potential to surpass its all-time high of $73,750, reached in March this year. The total number of Bitcoin holders has decreased by 672,510 compared to June.
Despite this decline, Santiment suggests that such mass liquidations could increase the likelihood of a Bitcoin rebound. As of now, Bitcoin is trading at $64,033, marking a 2.8% decline since Wednesday.
