The activation of the address came after Bitcoin's dramatic plunge
Notably, the address, which contains $1.14 million worth of Bitcoin at current prices, sprung back to life after more than a decade of dormancy following the cryptocurrency's massive price crash. The price of the largest cryptocurrency collapsed to the lowest level in five months on Friday due to the double-whammy of the infamous Mt. Gox exchange replaying crypto to creditors as well as U.S. and German governments going on a Bitcoin selling spree.
In fact, just two whales have Several Bitcoin addresses that are older than 10 years have been activated during this month so far. On July 4, a Bitcoin address containing 199 BTC was activated after 12.4 years. On July 3, a dormant address with 43 BTC sprung back to life after three years. On July 2, an address with 33 BTC became active again for the first time since 2011.
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