An old Bitcoin wallet that had been dormant for over 11 years has been activated, recording a massive 32,087% gain.
According to blockchain data and information, this wallet containing 54 Bitcoins, which in 2013 was worth around $10,174, has been reactivated.
Today, the value of those Bitcoins has risen to $3,274,741.
This sudden activation of the wallet has raised many questions and speculations about the motives behind it, especially after a long period of inactivity.
The reasons and timing are still unknown, which gives this story a mysterious and exciting character.
Inactive wallets are usually believed to belong to early adopters or early-stage Bitcoin miners.
However, the identity of the wallet owner remains unknown, but this sudden activation has opened the door to various speculations.
It is possible that the owner was one of the early adopters who decided to take advantage of the massive gains, or perhaps the wallet was recently discovered after being forgotten for years.
Another possibility is that the owner decided to transfer the funds to a safer wallet.
At the time of writing, Bitcoin was hovering around $61,800, having risen 2% in the past 24 hours.
The market is currently in a state of anticipation as investors await comments from Federal Reserve Chairman Jerome Powell in Jackson Hole.
Powell is expected to provide new details on the US central bank’s plans to cut interest rates.
The minutes of the Federal Reserve’s July meeting indicated that the vast majority of officials believe that current conditions may warrant easing monetary policy at the next meeting if economic data continues to be in line with expectations.
