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FourBitcoin (BTC) wallets that had not recorded a single transaction in more than a decade have moved, shifting a combined 202.84 BTC worth approximately $15.73 million between Aug. 29 and Sept. 4.
The activity was trackedby Galaxy Research using on-chain data.
The wallets range from 13 to nearly 16 years old. Their cost bases are so low that even a modest BTC price produces percentage gains that are difficult to contextualize. One of the four transfers came with an on-chain detail that shed light on what the holder may be planning to do next.
One Wallet Turned $120 Into More Than $3M
The second-largest wallet in the group is among the more striking cases. It held 40 BTC, had been dormant since November 2011, and was worth approximately $3.09 million at the time of transfer. Galaxy Research placed the average cost basis at roughly $3 per coin. That translatesto a gain of approximately 2,571,899%, and an original outlay of around $120.
The largest wallet held 146.06 BTC, valued at approximately $11.31 million. It had sat inactive since November 2013, close to 12.8 years. Its cost basis was around $595 per coin, putting the total gain at roughly 12,902%. Two smaller wallets rounded out the group: 10 BTC dormant since June 2011, worth about $777,000, and 6.78 BTC last active in February 2011, valued near $551,000. Coins from the 2011 wallets carried paper gains exceeding 500,000% in some cases.
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On-Chain Tag Points Toward a Sale
Most old wallet movements leave intent ambiguous. A transfer on its own does not reveal whether a holder is selling, consolidating funds, or shifting to different custody. This batch was different in at least one case. Galaxy Research tagged the 6.78 BTC transfer with a Coinbase recipient attribution, a label typically associated with intent to sell rather than an internalblockchain reorganization.
Several wallets in the group also carried “Noah Doe” sender tags, connecting them to a New York lawsuit that seeks to have thousands of dormant Bitcoin addresses declared abandoned property. Wallets linked to that case have moved regularly since a judge paused the proceedings in June 2026. The activity follows an earlier August wave in which six dormant wallets shifted roughly $40 million worth of BTC over 10 days. Galaxy Research data shows that Bitcoin held for 10 or more years has reawakened at a rate in 2026 that stands out compared to prior years, though the reasons behind individual movements remain unclear without further on-chain context.
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Source: coinmarketcap.com