U.Today – Awakening of Dormant Bitcoin Wallets

Earlier today, prominent blockchain tracker Whale Alert reported that several Satoshi-era Bitcoin wallets have reawakened after being dormant for over 15 years.

Five dormant 2009 Bitcoin miners suddenly reemerge

Analytics account @lookonchain shared that within an hour, five dormant Bitcoin wallets containing 50 BTC each—totaling $3.18 million—have come back to life. By November 2012, the Bitcoin network reached 210,000 blocks.

These wallets belonged to miners who earned their 50 BTC for generating a Bitcoin block in 2009, the year Satoshi Nakamoto launched the world’s first cryptocurrency. Initially, block rewards were 50 BTC until the first halving in 2012 reduced it to 25 BTC.

All five wallets collectively transferred 250 BTC, worth nearly $16 million.

Bitcoin price regains $63,000

This week, Bitcoin has gained over 11%, increasing from $57,600 to around $64,000. The price surged by 3.36% in the last 24 hours but saw a minor drop, stabilizing at $63,545 at the time of writing. This growth was driven by the Federal Reserve's decision to cut the annual interest rate by 50 basis points, marking its first rate cut in four years.

This article was originally published on U.Today