- A dormant Bitcoin wallet from the early Satoshi era has been reactivated with 64 BTC after 13.6 years.
- Recent Bitcoin wallet activations, including 142 BTC after 10.8 years, have drawn attention from the crypto community.
- Bitcoin surged to over 64k following remarks by Federal Reserve Chairman Jerome Powell, reflecting renewed investor confidence.
A long-dormant Bitcoin address holding 64 BTC, valued at $4.1 million, has been reactivated after 13.6 years. This wallet, inactive since the early days of Bitcoin, resurfaced on the blockchain. On-chain data from Whale Alert highlighted the activation, which occurred during a time when Bitcoin’s creator, Satoshi Nakamoto, was still actively contributing to online discussions.
The Satoshi Era and Dormant Wallet Activity
The “Satoshi era” refers to the period between 2009 and 2011, during which Nakamoto was actively engaged in Bitcoin development. Wallets from this era have garnered interest due to their long periods of dormancy and the large amounts of Bitcoin they often hold. Recently, several of these wallets have been reactivated, attracting attention from the crypto community.
On August 21, a dormant wallet containing 142 BTC was activated after 10.8 years. This particular wallet had seen a remarkable gain of 11,454% over that time. Similarly, on August 19, a Bitcoin wallet holding 19 BTC was reawakened after 10.7 years, yielding an 8,844% increase in value. These reactivations are seen as rare events, as they often involve early Bitcoin adopters who mined or purchased BTC during its infancy.
Bitcoin Price Surges Amid Wallet Activations
As these dormant wallets stir, Bitcoin’s market performance has also seen notable shifts. Following remarks by U.S. Federal Reserve Chairman Jerome Powell, Bitcoin surged to a high of $64,987. Powell hinted at a possible monetary easing cycle beginning next month, leading to increased investor confidence. His comments during the Jackson Hole Summit emphasized adjusting monetary policies based on evolving data and risks.
Bitcoin’s momentum continued, briefly reaching $64,529 on Saturday before slightly easing. At the time of writing, Bitcoin was down 0.43% over the last 24 hours, settling at $63,929.
Early Adopters Continue to Resurface
The recent string of wallet activations highlights the impact of early Bitcoin adopters on the market. On August 16, another dormant address containing 174 BTC was reactivated after 10.6 years, with its value now exceeding $10.1 million. The original purchase price of the BTC was just $142,600 back in 2014.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
