From Investing.com: 2024-07-06 11:00:20

A long-dormant Bitcoin wallet was recently reactivated after 10.6 years, with its value skyrocketing by almost 8,000%, making its owner a millionaire. The wallet contains 1,004 BTC, purchased in 2013 and 2014 at an average price of $731, now valued at $56,924,352. This is the fourth dormant wallet to awaken in the past week.

Despite falling below $54,000, Bitcoin has rebounded to $56,500 with a 4.56% increase in the past 24 hours. The price rise comes as governments and Mt. Gox dump Bitcoin on the market, with a positive non-farm payroll report for June driving further gains. Investors seem unfazed by the influx of Bitcoin from dormant wallets.

Read more at Investing.com: Satoshi-Era Bitcoin Wallet Shows 7,634% Bitcoin Profit, Awakening After 10.6 Years By U.Today