For the first time in 9 years, a wallet with 1000 Bitcoin in it has been activated.
A 1000 Bitcoin wallet awakened
While the cryptocurrency market, following the recent crashes of the last few weeks returns to the levels of January 2021, Bitcoin Magazine reports the news that 1000 Bitcoin have been moved from a wallet that has been dormant since 2013.
🤯 Wallet with 1,000 #Bitcoin worth $30 million activated for the first time since 2013
— Bitcoin Magazine (@BitcoinMagazine) May 15, 2022
The news in itself may well mean little, but when placed in the current market phase, which is so negative, it nevertheless represents a signal that can be interpreted in several ways.
First of all, one has to think about what the value of Bitcoin was in 2013, which was around 900 dollars. Hence many might think that someone, having analyzed the critical economic phase, might also consider cashing out.
At least that’s what one Twitter user thinks, who commented unequivocally on the news:
“If hibernated wallet over 5 years ago being activated or checked, it signs as the owner are ready to cashout, be ready, bearish is not yet over. and watchout Mt. Gox customers as victims of manipulation have enormous BTC they want certainly their money back”.
But clearly there are those who take the exact opposite view, such as the user who goes by the name Vechain Warrior, who argues instead how it would not make sense, after so many years of inactivity, to sell nearly $30 million in such a bearish market.
If it wasn’t activated since 2013 it doesn’t make sense to sell your bitcoin at 30k after hitting almost 70k. This is a smart invester and won’t sell the bottom
— Vechain Warrior (@Financial_Bug21) May 15, 2022
The activities of the famous Microstrategy and other dormant wallets
On the other hand, in recent days, Michael Saylor, the CEO of Microstrategy, has said that he sees this market phase as a great opportunity to invest in Bitcoin. According to Saylor, based also on returns over the past ten years, Bitcoin would perform far better than all safe haven assets, gold in the lead.
Returning to the news of the dormant wallet, there are numerous cases of wallets being reactivated after years. The most recent case is that of a wallet containing 407 Bitcoin (just under $15 million) that made a transaction after a good eight years of inactivity, as reported by Whale Alert, which keeps a daily record of all large Bitcoin movements.
And it was thanks to the transfer from a so-called “dormant” wallet that FBI agents a few months ago managed to intercept some of the money stolen in the sensational hack that took 119,000 BTC from Bitfinex accounts in 2016.