Anonymous activates a “forgotten” crypto wallet, which has risen in price over 11 years from $4 to $3 million

A bitcoin wallet, owned by an anonymous owner and called the “sleeping whale”, mysteriously activated 11 years after its creation.

The main feature of this crypto wallet is its value in monetary terms. When the bitcoins contained in it were purchased, they were worth less than $ 4 for 50 bitcoins. Today, 11 years later, the value of funds in the wallet exceeds $ 3 million. That is, the value of the cryptocurrency has grown by more than a million percent since the last activity.

The wallet was last used on May 17, 2010, less than a year before Satoshi Nakamoto, the creator of the cryptocurrency, sent his last emails to other crypto developers.

As a reminder, the semi-anonymous nature of bitcoins means that it is possible to track transactions on the public blockchain, but it is not possible to link them to an individual or group.

This is not the first time the so-called “sleeping whale” is waking up this year: last month a bitcoin wallet containing 616 BTC was also activated after being unused for almost nine years.

The underlying technology of bitcoin means that there will ever be only 21 million bitcoins, however several million are stuck in old wallets whose access keys could be lost or forgotten forever.

The most valuable dormant wallet currently contains about 80,000 BTC – about $ 5 billion at current exchange rates.

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Alexandr Ivanov earned his Licentiate Engineer in Systems and Computer Engineering from the Free International University of Moldova. Since 2013, Alexandr has been working as a freelance web programmer.
Function: Web Developer and Editor
Alexandr Ivanov

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