- An anonymous Bitcoin address holding 479 BTC ($53.7m) has been activated for the first time since 2012.
- The recent event underscores the vast troves of early Bitcoin that could still be sitting dormant.
- Bitcoin recently peaked at $124,517 but has since slipped nearly 14%, with analysts warning the correction may not be over.
A dormant Bitcoin whale holding nearly 500 coins has re-emerged after more than a decade, waking to eye-watering gains.
Blockchain tracker Whale Alert reported on Thursday that an anonymous address holding 479 BTC, worth roughly $53.7 million at current prices, was suddenly activated after sitting untouched for 12.8 years.
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Bitcoin Whale Wakes Up
On September 3, Whale Alert posted that a dormant address holding 479 BTC had been activated for the first time in over 12 years.
The assets, which are now worth $53,683,598, were worth just $5,748 when the wallet was last used in 2012.
That means the Bitcoin had surged almost 934,000%, turning the modest sum 12 years ago into a life-changing fortune.
Whale Alert shared the wallet had made two trial transactions, moving just 0.24998803 and 0.00039728 BTC to two anonymous wallets.
Bitcoin Price Sliding
At the start of August, Bitcoin hit a new all-time high of $124,517, but the price has since been sliding.
On September 1, CCN reported that BTC had shed nearly 14% of its value, as traders continue to sell their gains.
“The concern isn’t just the depth of the pullback—it’s the warning that the correction may not be finished,” CCN analyst Valdrin Tahiri said.
“If the wedge holds, Bitcoin could find support near $98,000 before making its next move,” he added.
Recent price moves has led to some X users speculating that the newly awoken Bitcoin whale may be preparing for a huge sell off.
“Please don’t sell,” said one user.
Satoshi-era and Forgotten Wallets
The wallet dates back to the so-called Satoshi Nakamoto era, when Bitcoin’s elusive creator was still active in the project’s early development.
Nakamoto vanished from public view in 2010, leaving behind a trove of mined coins estimated at over 1 million BTC, a stash that has never moved.
If they are still alive and in control of the keys, that fortune would be worth over $110 billion at today’s prices, cementing Nakamoto as one of the richest figures on the planet.
The awakening of this 12-year-old wallet is a reminder of how many other early holders remain in the shadows.
Researchers estimate that hundreds of thousands of Bitcoin from the early 2010s have never been touched, whether because owners lost their private keys or chose to hold on indefinitely.
