The contents of a Bitcoin wallet forgotten for 11 years rose from $4 to $3,100,000

A Bitcoin wallet that had not been used for more than 11 years has come back to life. In that time, its contents have increased in value 775,000 times.

What is known

One of the Bitcoin wallets saw activity for the first time since May 17, 2010. What such a long hiatus is related to is unknown. Maybe, its owner has unenviable patience, but it is hard to believe it.

Anyway, the wallet contains 50 Bitcoins. In spring of 2010 their price was about $4. Now you can sell 50 coins for more than $3.1 million at about $62,000 apiece.

It should be noted that the principle of digital currency mining has changed dramatically in 11 years. Previously, a home computer was enough to mine Bitcoin, but now it requires powerful special equipment. In addition, the cost per block of the blockchain has fallen six-fold over this time to 6.25 Bitcoin.

Source: The Independent