A bitcoin wallet that had been dormant since Jan. 1, 2016, transferred 500 BTC worth $41.33 million to Coinbase on Tuesday, according to blockchain data compiled by btcparser.com and Arkham Intelligence. The movement came as bitcoin’s price traded above $82,000.
The transaction was part of a wider increase in activity from long-dormant wallets. So far in October 2026, 23 old-school wallets have awakened, moving a total of 1,745.615 BTC valued at more than $143 million.
October’s Dormant Wallet Activity
Since Bitcoin.com News published its Sunday report on sleeping bitcoins, 971.445 previously dormant bitcoins have changed hands. The bulk of that activity came from two wallets.
The first transferred 411.45 BTC from a wallet established on Sept. 11, 2013. Arkham Intelligence identifies the entity behind the address as an unidentified “BTC whale.” The transaction moved funds from a legacy address to a newer Segwit-format wallet, consolidating two unspent transaction outputs (UTXOs).
From $434 to $82,000
Tuesday’s 500 BTC movement from the 2016 legacy wallet was different from the 2013 transaction. Arkham Intelligence data indicates the funds were sent to Coinbase and subsequently dispersed, suggesting the owner may have liquidated the holdings.
When the wallet was created in 2016, bitcoin was trading at approximately $434 per coin. At the current valuation of $41.33 million, the transfer represents a gain of roughly 18,930%, or nearly 190 times the original value.
