A Bitcoin wallet dormant since 2011 containing 10,000 BTC has been reactivated, moving holdings now valued at approximately $1.09 billion. The coins were originally acquired for roughly $109,246.
This occurrence coincides with Bitcoin trading near $109,100. Blockchain analytics firm Glassnode reports its ‘Liveliness’ metric remains at multi-year lows, indicating persistently strong long-term holding behavior continues among investors who have held BTC for over 155 days.
The reactivation underscores enduring hodler confidence even amid Bitcoin trading near all-time highs. Concurrently, institutional interest demonstrates distinct growth signals. Publicly traded companies Fragbite Group and Vanadi Coffee have both recently adopted Bitcoin strategies tied directly to their stock valuation, resulting in significant share price surges.
Market analysts view the reactivation of such historically dormant wallets alongside these institutional moves as significant indicators of growing market confidence. Predictions point towards potential short-term Bitcoin price targets around $116,000. Longer-term forecasts project values potentially reaching between $200,000 and $250,000, propelled further by institutional adoption trends and sustained market momentum.
Together, these shifts highlight strategic positioning by diverse market participants within the evolving cryptocurrency ecosystem.