Old Bitcoin Address Rises, Earns 10.419% Profits In One Decade

Old Bitcoin address rises, earning 10.419% profit in a decade (Photo; Doc. History Draft)

JAKARTA - Activities were detected at Bitcoin addresses that have long been inactive, with spectacular gains of 10.419%. Whale Alert reports the reactivation of Bitcoin addresses that have been sleeping for about 10.6 years. This address stores nearly 149 Bitcoins (BTC).

In 2013, 149 Bitcoins at this address were only worth 81,667 US Dollars (approximately Rp1.3 billion). However, in the last ten years, the value of Bitcoins has experienced significant growth despite fluctuations. Bitcoin prices even hit an all-time high (ATH) of more than US$73,000 (approximately Rp1.18 billion). As of this article written, 1 BTC is worth 57,819.04 US Dollars (approximately Rp939 million) with an increase of 2.85% in the last 24 hours according to data from CoinMarketCap.

Therefore, the 149 Bitcoins are now worth more than 8.6 million US Dollars (approximately Rp139 billion), providing a profit of about 10,419% in a decade. This is one of the highest profits recorded by the long inactive Bitcoin wallet.

According to Coingape information, in recent weeks, some of Bitcoin addresses that have long been inactive began showing signs of activity. A few days ago, Whale Alert detected the reactivation of Bitcoin addresses that had been sleeping for about 11.1 years. This wallet stores 20 BTC which at that time was worth 1.13 million US Dollars (approximately IDR 18.3 billion) based on the market price of Bitcoin. Currently, that value has increased to 1.15 million US Dollars (approximately IDR 18.6 billion).

Two days earlier, another address that stores 43 Bitcoins was also activated, with a value of about 2.5 million US Dollars (approximately IDR 40 billion). These addresses suddenly started getting out of their recent Bitcoin position, amid a price drop. Unfortunately, this trend is worrying about the crypto industry in general, especially as the market is facing intense selling pressure.

However, today is better than the last few days of the past two weeks. Even the German government, which has sold a lot of BTC, has re-accumulated more than 3,000 units of this first digital currency. Bitcoin, Ethereum, and other digital currencies are experiencing an increase in positive sentiment. The majority of them recorded price increases between 2% and 13%, which showed market recovery.

Most of this bullish spike was linked to Jerome Powell's testimony on Tuesday. As previously reported, the Federal Reserve Chair spoke to the Senate Banking Committee on inflation and interest rate cuts. To date, it is still uncertain whether inflation will return to its target of 2%.