Dormant wallet with 1000 Bitcoin activated since 2013
Dormant wallet with 1000 Bitcoin activated since 2013

Dormant wallet with 1000 Bitcoin activated since 2013

By Vincenzo Cacioppoli - 16 May 2022

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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.

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.

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.

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog., he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

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