A Bitcoin address that had not recorded any transactions for more than 14 years moved its balance on August 6, 2026, reviving another long-dormant stash from the network’s early days. According to Galaxy Research, the address beginning with “1EBz” first received the coins on July 16, 2011, when Bitcoin was trading below $15.
That balance sat untouched until 20:14 UTC on August 6, 2026, when a single transaction swept the full amount to a new address. Galaxy Research said the move took place in block 961331 and involved 49.97 BTC, now worth about $3.23 million.
The position was built at roughly $10 per coin
Based on the figures cited in the report, the 49.97 BTC would have cost about $500 to acquire in mid-2011, implying an average basis near $10 per coin. With Bitcoin priced near $65,000 today, the wallet’s position is valued at roughly $3.23 million, equal to a 634,347% gain.
Decrypt noted that this kind of return profile belongs to Bitcoin’s earliest period, when the asset was still thinly traded and experimental rather than the $1.3 trillion market it has become. It also pointed out that very few holders managed to keep both the coins and the private keys intact for that long.
Arkham data traces the funds to a FalconX-labeled wallet
On-chain data from Arkham Intelligence shows that the destination wallet later transferred the funds to a wallet labeled FalconX. FalconX is a prime broker used by trading firms and institutions, not a retail-focused exchange.
That link does not prove the coins were sold. Still, it puts the funds inside professional market infrastructure and leaves open several possibilities mentioned in the report: the owner could be consolidating assets, moving them closer to a venue where they may eventually be sold, or positioning them for use as collateral.
Galaxy Research published the wallet details
Galaxy Research described the move in a post tracking “awakened” coins. It said the 49.97 BTC had remained untouched since first being received on 2011-07-16 and then moved on 2026-08-06 in block 961331. The address disclosed in the post was 1EBzWeno4frVz5hKp3LvVRpN84cpfJzYjL, with no attribution attached to it.
The same Galaxy Research post listed realized PnL of +$3.23 million, a gain of +634,347%, an average basis of about $10, and a holding period of 15.0 years.
Old Bitcoin wallets waking up is a recurring pattern
Decrypt said this was not an isolated event. Coins from Bitcoin’s early years wake up from time to time, and such moves usually draw close attention across the market.
The report pointed to several earlier examples. In 2023, a Satoshi-era Bitcoin whale moved $11 million after 12 years of inactivity, and another ancient stash changed wallets after sitting dormant for 12 years. In 2024, nearly 50,000 BTC worth $2 billion shifted after remaining untouched since 2013; analysts at the time attributed that move to exchange or custodian rebalancing rather than a single early holder cashing out. Decrypt also said Bitcoin whales reappeared repeatedly in 2025 and moved billions of dollars’ worth of BTC.
In most of those cases, the destination wallets were tied to professional infrastructure rather than a private holder suddenly liquidating coins.
Why traders watch Coin Days Destroyed
The report said one of the key metrics used to interpret these transfers is Coin Days Destroyed, also known as Satoshi Days. The idea is simple: each coin accumulates one day of age for every day it remains unmoved. When that coin is finally spent, all of those accumulated days are destroyed at once.
For a transfer coming from a wallet dating back to 2011, that means more than 5,400 days per coin are wiped out in a single move. Such a reading stands out because it signals that a very old balance has started moving again.
A large print like this can mean an early adopter is taking profit. It can also mean the owner is relocating coins for security or custody reasons. The data only shows that the movement happened, not why it happened. Decrypt said some traders factor that uncertainty into their positioning because they worry a profitable long-term holder could eventually sell and pressure the market.
The BTC remained at the receiving address as of Friday
As of Friday, the BTC was still sitting in the receiving address, according to the report.