Between August 29 and September 4, four long-dormant Bitcoin wallets woke up and moved a combined 202.84 BTC, worth about $15.73 million. Every one of those addresses had sat untouched for more than a decade. The oldest goes back to February 2011.
Address Breakdown
The biggest wallet held 146.06 BTC and had been dormant since November 2013—almost 12.8 years. Its cost basis was roughly $595, which points to a gain of about 12,902%. Another address held 40 BTC, untouched since November 2011, and now worth around $3.09 million. Its average acquisition cost was only $3, for a wild 2,571,899% gain—a $120 original stake swelling to more than $3 million. And there were two smaller wallets too: one with 10 BTC and another with 6.78 BTC, dormant since June 2011 and February 2011.
Legal Context and Potential Sale
Galaxy Research said the 6.78 BTC transfer landed at Coinbase, the kind of move usually linked to an intent to sell. Some of the reactivated addresses also carried the sender label "Noah Doe." That name ties back to a New York lawsuit that aims to have thousands of dormant addresses declared abandoned property. A judge put the case on pause in June. And according to Decrypt, these on-chain moves may connect to continuing legal and asset-disposition strategies.