Four dormant Bitcoin wallets moved a combined 202.84 BTC, worth approximately $15.73 million, between August 29 and September 4, according to blockchain monitoring by Galaxy Research.
The largest awakened wallet held 146.06 BTC valued at about $11.31 million and had remained untouched since November 2013. At an estimated original cost basis near $595, the holdings represent a gain of approximately 12,902%.
The oldest wallet in the batch contained 40 BTC, inactive since November 2011. With an average cost of roughly $3, this stash is now valued near $3.09 million, representing gains exceeding 2.5 million percent. The original $120 investment has grown to more than $3 million over nearly 15 years.
Two additional wallets completed the group: 10 BTC last moved in June 2011, currently worth about $777,000, and 6.78 BTC from February 2011, valued near $551,000.
The recent activity extends a broader trend observed throughout the summer. An earlier wave in August saw six wallets transfer approximately $40 million within a single 10-day period. Bitcoin's oldest cohort of coins—those dormant for a decade or more—has been moving at an unusually rapid pace.
One transfer offered a clearer indication of intent. The 6.78 BTC wallet showed a recipient attribution to Coinbase, typically signaling an intent to sell rather than simply relocate funds.
Several reactivated wallets carried sender tags referencing the "Noah Doe" lawsuit, which seeks to have thousands of dormant addresses declared abandoned property. Named wallets connected to that case have been active since a judge paused proceedings in June.
The reasons behind the recent wave of activity from long-dormant holders remain unclear, though each movement raises questions about dormant Bitcoin supply returning to active circulation.
