Bitcoin Address Holding 500 BTC Reactivates After 10.7 Years

A Bitcoin (BTC) address holding 500 BTC became active Oct. 20 after 10.7 years of inactivity, drawing attention to a balance valued at about $41.5 million.

The holdings were valued at $41,536,315 when the activity was detected. The same 500 BTC had an estimated value of $194,955 in 2016. That puts the difference between the two dollar valuations at more than $41.3 million, while the quantity of Bitcoin being compared remains 500 BTC.

Based on those figures, the estimated value per coin was about $390 in 2016 and about $83,073 at the time of the activation. Those amounts describe the holdings at two points in time; the higher valuation is not itself a cash payment or a realized gain.

The address’s return to activity is the event. Its roughly 10.7-year pause places its previous activity in 2016, the year used for the earlier valuation. The reported $41.5 million figure describes the value of the 500 BTC at activation, not the value of a confirmed sale.